4iG acquires Digi

Telco

Photo by Radu Bercan / Shutterstock.com

Listed IT company 4iG on Monday said it acquired 100% of telecommunications company Digi, according to a report by state news wire MTI.

4iG announced late in November that it agreed to acquire 100% of DIGI - the runner-up on Hungary's fixed-line voice, internet, and TV market - for EUR 625 million.

"With the closing of the transaction and the acquisitions made in the infocommunications sector over the past year, 4iG will become one of the largest telecommunication operators in Hungary, while the group has also built a dominant position in the Western Balkan telecom market," 4iG said.

Hungary's government earlier declared 4iG's acquisition of DIGI of "national strategic significance", exempting the transaction from the scrutiny of competition authorities.

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