4iG acquired a 76.78% stake in Antenna Hungaria through the in-kind contributions of DIGI, 4iG Montenegro, Invitech ICT Services, 4iG Albania, and Albania Telekom Invest.
The state's stake in Antenna Hungarian has fallen to 23.22%.
4iG reached a preliminary agreement on the transaction last August and sealed the concluding deal in February.
The company recently closed the acquisitions of DIGI – the runner-up on Hungary's fixed-line voice, internet and TV market – for EUR 625 million; Telenor Montenegro, Montenegro's leading mobile telecommunications service provider; Invitech, a leader on Hungary's telecommunications and IT network infrastructure services market; Albania Telekom Invest, the owner of mobile services provider One Telecommunications; and an 80.27% stake in ALBtelecom, Albania's biggest fixed-line service provider, now held by 4iG Albania.
In a separate statement, 4iG said the value of the in-kind contributions, which took place in two steps, was HUF 534 billion.
The contribution of 4iG's entire telecoms portfolio to Antenna Hungária has created the second-largest telecommunications group in Hungary with a portfolio of fixed voice, internet, and TV, as well as broadcasting and mobile services in the region and the Western Balkans, the company added.
"The acquisitions accomplished over the past year have completed the process of transformation that resulted in 4iG evolving from an IT systems integrator company into an international info-communications group providing a wide range of telecommunications and IT services," chairman-CEO Gellért Jászai said.
"In the coming period, we will seek to leverage synergies and collaborations between our companies and we will continue to explore acquisition opportunities to increase the market share of the group," he added.
In 2022, Jászai said 4iG will strive to enter the B2C segment with its telecommunications services under a single brand name and with a new strategy, in Hungary and the Western Balkans.
4iG said the parties in the transaction relied on the evaluations of PwC Hungary and DLA Piper to determine the value of Antenna Hungária and the companies involved in the capital increase.
The company noted that its agreement with the state concluded in August gives it the chance to acquire up to 80% of Antenna Hungária.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
