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e& completes acquisition of controlling stake in PPF Telecom, diversifying portfolio footprint into Central and Eastern Europe

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ABU DHABI, UAE, Oct. 24, 2024 /CNW/ — e& and PPF Group (“PPF”) today announced the successful completion of their landmark partnership, with e& acquiring a controlling stake (50% plus one economic share) in the service and infrastructure companies of PPF Telecom Group (“PPF Telecom”) across Bulgaria, Hungary, Serbia and Slovakia. This acquisition marks a significant step in e&’s ongoing global expansion ambitions, diversifying and growing its geographical presence to 38 countries. 

This milestone is poised to transform the telecom landscape in the Central and Eastern Europe (CEE) region and deliver enhanced value to over 10 million customers across the four markets. The partnership will provide them access to cutting-edge technologies, expanded product offerings, and innovative digital services to accelerate digital growth and empower businesses and communities alike.

A partnership built on mutual strengths

The conclusion of this transaction is a significant leap forward for both e& and PPF Telecom. By combining e&’s global scale, extensive sector expertise, and digital capabilities with PPF Telecom’s deep regional knowledge and proven track record of organic growth and operational excellence, this partnership is set to accelerate future growth while opening new avenues for advanced digital services, IoT solutions, and enhanced B2B offerings. 

Hatem Dowidar, Group CEO, e&, added: “The completion of our transaction to partner with PPF Telecom is a momentous point in e&’s journey, extending our telecom footprint to 20 countries and the overall footprint of e& operations to 38 countries, across the Middle East, Asia and Africa, and now Central and Eastern Europe. PPF Telecom’s regional expertise and e&’s global capabilities create a powerful platform for growth and innovation across these dynamic markets. We are all committed to providing enhanced value to our customers through cutting-edge digital services.

I am delighted to welcome Balesh Sharma, CEO of PPF Telecom and his talented team to the e& family. Their deep understanding of the local markets will be invaluable as we move forward on this exciting new chapter.”

Khalifa Al Shamsi, CEO, e& international, said: “We are excited to welcome the PPF Telecom team to the e& family. This partnership opens tremendous opportunities for cross-pollination of ideas, best practices and innovative solutions and strengthens our ability to provide state-of-the-art and reliable telecom, cutting-edge technology and digital services to millions of new customers, fostering economic growth and digital inclusion across the region.

I look forward to working with Balesh Sharma and the PPF Telecom team to leverage our combined strengths, drive greater operational efficiency and accelerate the rollout of next-generation networks and digital services. Together, we are well-positioned to drive digital advancement and explore new growth opportunities across our expanded global network.”

A new era for PPF Telecom 

A key differentiator of PPF Telecom is its unique asset separation model in the telecom world. This strategically innovative approach enables greater focus and specialisation, leading to potential performance enhancements and value creation in both infrastructure and service areas.

This asset separation model will enable the new partnership to optimise resource allocation, streamline decision-making, and enhance overall efficiency.

PPF’s proven lean management practices combined with e&’s global scale and resources will be a cornerstone of this partnership’s operational strategy to drive significant operational synergies and cost efficiencies. This synergistic approach is set to deliver efficient and high-quality services while maintaining agility in the dynamic telecom market.

Jiří Šmejc, CEO, PPF, said: “I welcome e& as our partner in the telco business in CEE. Together, we have created a platform to drive value creation in fast-developing telecommunications markets. Our partnership with e& testifies to the quality of PPF’s industry expertise and local knowledge. In return, PPF’s telco teams will benefit from the global scale and technology know-how of e&, enabling us to meet our ambitions for further growth. It took more than a year and a half since our initial discussions to close this extremely complex transaction. The result is hugely rewarding, and I would like to thank both teams for their great work.”

Jiří Šmejc reiterated that PPF’s telco assets in the Czech Republic will remain outside of e& PPF Telecom and will be wholly owned by PPF.

Under the terms of the partnership, Balesh Sharma, PPF Telecom CEO, and his PPF Telecom management team will retain their roles at e& PPF Telecom. This will ensure the continuity of the operations while drawing on the broad expertise of PPF Telecom’s teams in their respective markets.

Balesh Sharma, CEO PPF Telecom, said: “Today marks an important milestone, not only in the journey of e& PPF Telecom, but for the broader telecom sector in the region. As a result of this partnership, our customers will get even better services, including access to the e& suite of products, and will benefit from better international roaming offers. For our employees, the partnership opens new learning and development, and career opportunities, thanks to e&’s global footprint.”

Value creation through strategic partnership 

This deal will leverage synergies in network operations, procurement and customer service, driving increased operational efficiency and unlocking new opportunities for growth, innovation and enhanced customer experiences across the region. e&’s expertise in digital services, AI and IoT will further enhance PPF Telecom’s offerings, ensuring a seamless transition and continued access to best-in-class services. Customers will benefit from an expanded portfolio of world-class products and services, including advanced B2B and IoT solutions.

This partnership is also set to bring great value to e& and PPF Telecom’s employees and unlock new opportunities for career growth, cross-continental learning, and integration into a global talent network. The new joint entity, e& PPF Telecom, will operate as a standalone entity, retaining its current management team and employee base.

About e&

e& is a global technology group committed to advancing the digital future across markets in the Middle East, Asia, Africa and Europe. With the group’s financial performance in 2023 showing a consolidated net revenue of AED 53.8 billion and a net profit of AED 10.3 billion, e& continues to maintain its position as a financial powerhouse, reflected by its strong credit rating and solid balance sheet.

Founded in Abu Dhabi over 48 years ago, e& has evolved from a telecom pioneer into a technology group. Its footprint now spans 38 countries, offering a comprehensive portfolio of innovative digital services ranging from advanced connectivity, entertainment, streaming and financial services to AI-powered solutions, cloud computing, ICT, cybersecurity and IoT platforms.

The Group is structured around five core business pillars: e& UAE, e& international, e& life, e& enterprise and e& capital, each catering to distinct customer and market needs. These pillars empower e& to lead in various sectors, from telecom and digital lifestyle to enterprise services and venture investments. The ongoing strategic investments in AI, IoT, 5G and cloud services reinforce its leadership in the global technology landscape, driving the future of smart connectivity and innovation.

Driven by innovation, sustainability and a commitment to digital empowerment, e& is set on creating a smarter, more connected future for individuals, businesses and communities.

To learn more about e&, visit eand.com.

Contact:

Nancy Sudheer,
Senior Manager at e&
nsudheer@eand.com
+971 50 705 5290

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SOURCE e&

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Unifor calls on CN to prioritize passenger rail services

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OTTAWA, ON, Oct. 24, 2024 /CNW/ – Unifor is urging Canadian National Railway (CN) to prioritize the effective management of its rail infrastructure to ensure the safe and efficient operation of VIA Rail’s passenger services.

“This is about CN stepping up to fulfil its obligations to all rail users,” said Unifor National President Lana Payne. “Passenger rail must be prioritized to ensure that services like VIA Rail can operate safely and efficiently.”

Recent speed restrictions on key corridors have raised questions about CN’s accountability to all rail users, especially with minimal government oversight. Unifor maintains that CN has a duty to collaborate more effectively with passenger rail operators. The union argues that CN knew about VIA Rail’s acquisition of new trains and yet failed to engage in proactive discussions to accommodate the necessary adjustments.

“CN’s responsibility goes beyond sending notifications—it must actively facilitate a rail system that accommodates all users. As the owner and primary manager of these tracks, CN has a duty to ensure that passenger services are not compromised,” said Payne.

VIA Rail recently announced delays along the Quebec CityOttawaToronto corridor due to speed restrictions imposed on tracks owned and maintained by CN. The issue has drawn attention to the lack of regulatory oversight and CN’s dominant control over Canada’s rail infrastructure, impacting passenger rail services.

Unifor believes that the government must reassert regulatory oversight to prevent freight operators from sidelining passenger rail services. The union continues to advocate for the investment in passenger rail infrastructure, fair regulation, and a rail network that puts Canadians’ needs first.

Unifor is Canada’s largest union in the private sector, representing 320,000 workers in every major area of the economy. The union advocates for all working people and their rights, fights for equality and social justice in Canada and abroad, and strives to create progressive change for a better future.

SOURCE Unifor

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Axon to Release Third Quarter 2024 Earnings on November 7, 2024

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SCOTTSDALE, Ariz., Oct. 24, 2024 /PRNewswire/ — Axon (Nasdaq: AXON), the global public safety technology leader, today announced that it will report third quarter 2024 financial results after the market closes on Thursday, November 7, 2024. Axon will host a live Zoom video webinar to discuss the company’s financial results at 5 p.m. ET that same day.

The live webinar to discuss financial results, followed by Q&A, will be linked from Axon’s investor relations website at https://investor.axon.com. An archived replay will be available after the call ends. 

Upcoming Conference Participation

The Company also announced that Axon will participate in the following upcoming conferences. If applicable, events will be webcast live and archived on Axon’s investor relations website at https://investor.axon.com.

Northcoast 2024 Fall Management Forum, Wednesday, November 13, 202414th Annual Needham Virtual SaaS 1×1 Conference, Thursday, November 21, 2024Barclays Global Technology Conference, Wednesday, December 11, 2024

About Axon

Axon is a technology leader in global public safety. Our moonshot goal is to cut gun-related deaths between police and the public by 50% before 2033. Axon is building the public safety operating system of the future by integrating a suite of hardware devices and cloud software solutions that lead modern policing. Axon’s suite includes TASER energy devices, body cameras, in-car cameras, cloud-hosted digital evidence management solutions, productivity software and real-time operations capabilities. Axon’s growing global customer base includes first responders across international, federal, state and local law enforcement, fire, corrections and emergency medical services, as well as the justice sector, enterprises and consumers.

Non-Axon trademarks are property of their respective owners. Axon, the Delta Logo, Protect Life and TASER are trademarks of Axon Enterprise, Inc., some of which are registered in the United States and other countries. For more information, visit www.axon.com/legal. All rights reserved.

Follow Axon here:

Axon on X: https://x.com/axon_usAxon on Facebook: https://www.facebook.com/Axon.ProtectLife/Axon on LinkedIn: https://www.linkedin.com/company/axon-protect-life/

Note to Investors

Please visit http://investor.axon.com, https://www.axon.com/presshttps://x.com/axon_us and https://www.facebook.com/Axon.ProtectLife/ where Axon discloses information about the company, its financial information and its business.

CONTACT:
Investor Relations
Axon Enterprise, Inc.
IR@axon.com

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SOURCE Axon

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WASTE CONNECTIONS DEMONSTRATES PROGRESS TOWARDS ESG GOALS IN UPDATED 2024 SUSTAINABILITY REPORT

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TORONTO, Oct. 24, 2024 /PRNewswire/ — Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”) today released its 2024 Sustainability Report – Connecting with the Sustainable Future. The report demonstrates progress toward the Company’s aspirational ESG targets and sustainability-related objectives.

“2023 was another year of progress towards our sustainability-related goals, which we believe are inextricably linked to our focus on value creation in our business,” said Ronald J. Mittelstaedt, President and Chief Executive Officer. “With a multi-year reduction of 40% in emissions intensity, we have demonstrated that outsized growth is compatible with the achievement of our long-term aspirational ESG targets.”

Mr. Mittelstaedt added, “I would like to thank our 24,000 employees who embody our core values and drive our results. I’m particularly pleased by the notable momentum from reductions in voluntary turnover and the related impacts to safety-related metrics, both of which are showing ongoing improvement in 2024.”

Highlights of the 2024 Sustainability Report include:

Notable Gains in Employee Engagement: Voluntary turnover declined 22% in 2023, with continued improvement in 2024 bringing total declines of over 40% from peak levels in 2022.

Improved Safety Metrics: Incident rates were reduced by 7% in 2023, with ongoing momentum in 2024 bringing a total decline to 13% from 2022 levels.

Emissions Intensity Continues to Decline: Reductions in Scope 1 and 2 emissions intensity of over 40% from the 2019 baseline with absolute emissions down 13%.

Increased Resource Recovery: Continued increases in recycling and biogas recovery and beneficial reuse, including through investments in new facilities.

Reducing Fleet Emissions: Initiated testing of electric vehicles in New York City as part of commercial franchise introduction, with additional units on order.

The Waste Connections 2024 Sustainability Report is available at wasteconnections.com/sustainability or by clicking the following link: Waste Connections 2024 Sustainability Report.

About Waste Connections

Waste Connections (wasteconnections.com) is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, including by rail, along with resource recovery primarily through recycling and renewable fuels generation. The Company serves approximately nine million residential, commercial and industrial customers in mostly exclusive and secondary markets across 46 states in the U.S. and six provinces in Canada. Waste Connections also provides non-hazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S. and Canada, as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. Waste Connections views its Environmental, Social and Governance (“ESG”) efforts as integral to its business, with initiatives consistent with its objective of long-term value creation and focused on reducing emissions, increasing resource recovery of both recyclable commodities and clean energy fuels, reducing reliance on off-site disposal for landfill leachate, further improving safety and enhancing employee engagement. Visit wasteconnections.com/sustainability for more information and updates on our progress towards targeted achievement.

Safe Harbor and Forward-Looking Information

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (“PSLRA”), including “forward-looking information” within the meaning of applicable Canadian securities laws. These forward-looking statements are neither historical facts nor assurances of future performance and reflect Waste Connections’ current beliefs and expectations regarding future events and operating performance. These forward-looking statements are often identified by the words “may,” “might,” “believes,” “thinks,” “expects,” “estimate,” “continue,” “intends” or other words of similar meaning. All of the forward-looking statements included in this press release are made pursuant to the safe harbor provisions of the PSLRA and applicable securities laws in Canada. Forward-looking statements involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements about the timing and amount of investments and the ability to meet or exceed long-term, aspirational sustainability targets. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, risk factors detailed from time to time in the Company’s filings with the SEC and the securities commissions or similar regulatory authorities in Canada.  You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.  Waste Connections undertakes no obligation to update the forward-looking statements set forth in this press release, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws.

CONTACT:
Mary Anne Whitney / (832) 442-2253                              Joe Box / (832) 442-2153
maryannew@wasteconnections.com                              joe.box@wasteconnections.com    

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SOURCE Waste Connections, Inc.

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