4iG, state agree to conclude Antenna Hungária deal
Photo by Antenna Hungária
Listed IT company 4iG on Tuesday said it agreed to conclude the implementation of an agreement on the acquisition of a majority stake in state-owned telecommunications company Antenna Hungária through an in-kind contribution, according to a report by state news wire MTI.
4iG reached a preliminary agreement on the transaction last August.
On Tuesday, 4iG said it will acquire a 71.6% stake in Antenna Hungaria with the contribution of 100% of Digi, 4iG Montenegro - the owner of Telenor Montenegro - and Invitech services. The state will retain 28.4% ownership in Antenna Hungaria.
4iG said the value of the capital increase through the in-kind contribution "approaches HUF 402 billion". 4iG added that the share subscription and contribution agreement provides an additional opportunity for it to boost its stake in Antenna Hungaria to a maximum 80%.
The IT 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; and Invitech, a leader on Hungary's telecommunications and IT network infrastructure services market.
4iG said the Antenna Hungária transaction will create the second-largest entity on the Hungarian telecommunications and media services market, with key infrastructure in the Central and Eastern European region, as well as a portfolio of services in the B2B and B2C service segments.
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