4iG agrees to buy Digi for EUR 625 mln

Telco

Photo by Radu Bercan / Shutterstock.com

Listed IT company 4iG on Tuesday said it signed a final sale and purchase agreement to acquire 100% of telecommunications company Digi for EUR 625 mln from RCS + RDS.

The transaction is expected to close in January, subject to regulatory approval.

Digi is runner-up on Hungary's fixed-line telephony, internet and TV market. It also has a reinforced backbone and satellite infrastructure and television channels. It launched mobile telecommunications service in Hungary in May 2019 and delivers outdoor mobile coverage with 2,300 of its own base stations.

The company had net revenue of HUF 55 bln last year, public records show.

"The acquisition of Digi could be an important step in the creation of a national telecoms and telecoms infrastructure company by combining public and private capital, the platform company of which will be Antenna Hungaria," 4iG said.

4iG announced in August it reached a preliminary agreement to acquire a majority stake in state-owned telco Antenna Hungaria through the in-kind contribution of its telecommunications assets to the company.

The company said on Tuesday the fusion will create a "regional telecommunications holding company", with local interests to be complemented by ongoing acquisitions in the Western Balkans.

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