The European Commission (EC) gave perhaps its closest scrutiny to date, examining United Arab Emirates (UAE) operator e&’s acquisition of part of PPF Telecom Group. This was the first time that the EC enacted its Foreign Subsidies Regulation (FSR) which aims to stamp out unfair competition from overseas acquirers. The EU’s attitude to the Middle Eastern buyer marks a different tone to that seen in the US, where Middle Eastern companies and sovereign wealth funds are lining up to buy US tech firms and being welcomed in. Last week, the EC cleared e&’s acquisition of a 50% plus one share stake in PPF Telecom’s operations in Bulgaria, Hungary, Serbia, and Slovakia for the equivalent of €2.2 billion. The approval is the result of…