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4iG Q1 Sales Jumped 135% y.o.y.

Telco

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First-quarter net sales revenue of listed IT company 4iG jumped 135% year-on-year to HUF 115.2 billion, boosted by its acquisition of a controlling stake in Vodafone Hungary, according to an earnings report published on the website of the Budapest Stock Exchange.

Vodafone closed the purchase of a 51% stake in Vodafone Hungary on January 31, 2023.

It raised its stake in the telco to 70.5% through a share swap on March 20.

The acquisition secured substantial mobile market shares for 4iG in Hungary while also strengthening its position in fixed telephony, fixed broadband and TV services.

It is now the runner-up in the mobile and fixed telephony markets and the leader in fixed broadband and TV services.

 

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