Swedish cable maker acquires stake in Hungarian peer
Swedish cable maker Amo Kabel has acquired a 13% stake in Hungarian peer Fux, Fux majority owner and CEO Istvan Barkoczi said on Friday.
The agreement on the acquisition does not exclude the possibility of a takeover of the entire company, Mr Barkoczi said.
He declined to reveal the price of the transaction.
Amo Kabel, a business partner of Fux for 15 years, can strengthen its position on the Central and Eastern European market with the acquisition, he said.
Fux expects to close 2011 with revenue of HUF 7.5bn. Amo Kabel targets annual revenue of about twice that.
ADVERTISEMENT
.jpg)
Households Continue to Make Net Withdrawals in Oct
Gov't Keeps Rate on General-purpose Student Loans at 7.99%
Hungary Home Sales Climb 10% in November
4-legged Guests Welcome at Hungary's 1st Hampton by Hilton
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.
