BRUSSELS, June 10 (Reuters) - EU competition regulators on Monday opened an investigation into Emirates Telecommunications Group e&'s bid to buy Czech telecoms company PPF's assets, on concerns that the former may be benefiting from distortive foreign subsidies.
The move by the European Commission is the first into an acquisition under the bloc's Foreign Subsidies Regulation.
"The alleged subsidies notably take the form of an unlimited guarantee from the UAE and a loan from UAE-controlled banks directly facilitating the transaction," the EU executive, which acts as the bloc's antitrust enforcer, said in a statement. (Reporting by Foo Yun Chee; Editing by Sudip Kar-Gupta)
