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UAE Telecom Giant e& Acquires Serbia’s SBB For $855M To Expand in Europe

e&’s subsidiary, e& PPF Telecom Group BV, has finalized an agreement to acquire Serbian broadband and pay-TV provider SBB from United Group for $854.6 million (€825 million). This move strengthens e&’s presence in Central Eastern Europe, aligning with the company’s strategy to diversify revenue streams and accelerate growth.

The acquisition will see SBB merge with e&’s Serbian mobile subsidiary, Yettel, to create a leading converged operator. This merger will enhance mobile, fixed broadband, and pay-TV services, benefiting from the region’s high growth potential. The deal is expected to generate synergies and offer a comprehensive range of services, boosting competitiveness in the market.

The acquisition is being financed through debt raised by e& PPF Telecom, with SBB’s financials integrated into e& PPF Telecom. While the deal will not significantly impact e&’s overall financials, it is expected to strengthen its market position in Serbia.

SBB is a major player in Serbia’s broadband and cable TV sector, with over 700,000 active customers. In 2023, it generated $252.8 million in revenue and had an impressive 50% EBITDAaL margin. This acquisition is expected to add 12% to revenue and 15% to EBITDAaL annually for e& PPF Telecom.

e&’s broader European expansion strategy includes its October acquisition of a controlling stake in PPF Telecom Group, which operates across Bulgaria, Hungary, Serbia, and Slovakia. e& PPF Telecom now serves over 10 million customers in these markets.Forbes has ranked e& 13th on its list of Top 100 Listed Companies in 2024, and CEO Hatem Dowidar is 9th on Forbes Middle East’s Top CEOs list.

Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.

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