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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