4iG Successfully Completes Vodafone Hungary Takeover

With the completion of this acquisition, 4iG acquired a 51 per cent controlling stake in Hungary's second-largest telecom company, and Corvinus Nemzetkozi Befektetesi, a Hungarian State-owned company, acquired the other 49 per cent indirect stake.

Highlights

  • As a result of the acquisition Vodafone Hungary's assets have been transferred to the new owners.
  • The enterprise value (EV) of Vodafone Hungary disclosed in the transaction is HUF 660 billion.
  • The merging of 4iG Group and Vodafone Hungary will open a new era in Hungarian telecommunications.

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4iG Successfully Completes Vodafone Hungary Takeover

In partnership with the Hungarian State, 4iG, the Hungarian telecoms and IT group completed its acquisition of quadruple-play telecoms operator Vodafone Hungary, and the transaction was closed on January 31, 2023. 4iG announced the takeover completion update on the Budapest Stock Exchange. With the completion of this acquisition, 4iG acquired a 51 per cent controlling stake in Hungary's second-largest telecom company, and Corvinus Nemzetkozi Befektetesi, a Hungarian State-owned company, acquired the other 49 per cent indirect stake as per the sale and purchase agreement signed on January 8.




Also Read: Vodafone to Sell Vodafone Hungary for 1.7 Billion Euros

Transaction Assets

As a result of the acquisition, Vodafone Hungary's mobile frequencies, active radio transmission equipment, active antennas and cables, part of the outdoor cabinets, as well as the uplink and optical network serving the towers have been transferred to the new owners.

No Change to Customers

4iG announced customers would not be affected by the change of ownership, and Vodafone services will continue to be available to residential and business customers.

Market Leader in Fixed Internet Services

As a result of this transaction, the resultant company formed by the merger of the fixed and mobile communications portfolios of 4iG Group and Vodafone Hungary has become the second-largest mobile voice and internet operator and the market leader in fixed internet services and television broadcasting in Hungary. The Group's stakes in telecommunication companies result in a total of 7.6 million RGU (revenue-generating subscriptions) in Hungary.

Also Read: Iliad Fiber Expands as FiberCop Agreement Becomes Effective

The 4iG Group will be able to reopen the market in various service areas and drive Hungary's digital transformation through this transaction. This will also reinforce its position as a leader in info-communications services in the region.

The enterprise value (EV) of Vodafone Hungary disclosed in the transaction is HUF 660 billion, and the merger of 4iG Group and Vodafone Hungary will open a new era in Hungarian telecommunications.

4iG, based in Budapest, is the leading telecommunications and IT group in Hungary and the Western Balkan region and one of the leading companies in the knowledge-based digital economy.

Reported By

Aparna, from a journalism background, closely follows the developments in the telecom Industry.

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