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4iG closes acquisition of ALBtelecom

Telco

Image: Facebook

Listed IT company 4iG says it has closed the acquisition of an 80.27% stake in ALBtelecom, the biggest fixed-line telecommunications service provider in Albania, from Cetel Telecom, a unit of Turkey's Calik Holding, after the deal was given regulatory approval, according to an announcement on the website of the Budapest Stock Exchange.

4iG noted that the deal is part of a multi-step transaction involving the acquisition of around 3% of 4iG by Calik Holding, as an institutional investor.

4iG board decided on Friday to raise share capital with the issue of new shares by providing a claim of HUF 8 trillion, equivalent to EUR 22 million, at the official National Bank of Hungary fixing on Dec. 7, 2021, as an in-kind contribution by Calik Holding.

Calik Holding will subscribe to the new shares with a one-year lock-up period.

ALBtelecom has 153,000 fixed-line voice, 118,000 internet and 66,000 TV subscribers. It is Albania's third-largest mobile telco with 405,000 mobile subscribers.

The firm has an optical backbone network of 4,500 km, the largest in the country, and 450 mobile repeater stations. It had revenue of EUR 57.9 mln and EBITDA of EUR 17.4 mln in 2020.

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