4iG Gets Clearance to Acquire 20% Stake in Spacecom

Telco

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Listed Hungarian IT company 4iG on Wednesday said Israel's Ministry of Communication issued preliminary approval for it to acquire a 20% stake in Israeli satellite company Space-Communication, according to a report by state news wire MTI.

The Hungarian IT company earlier signed an agreement to acquire a 51% stake in Spacecom through Hungaro Digitel, a company it owns together with terrestrial broadcaster Antenna Hungaria.

4iG welcomed the preliminary clearance by the ministry and said its board would "carefully examine" the decision and weigh "how the acquisition of a 20% stake in Spacecom fits into the long-term strategy of 4iG Group".

Spacecom operates the AMOS fleet of four geosynchronous satellites, offering broadcast and broadband services.

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