Antenna merges asset management companies
Monday, June 6, 2005, 00:00
Antenna Multimédia Asset Management Holding Rt has merged into Antel Invest Kft as of June 1 and ceased to function as an independent corporate entity. The registered capital of Antel Invest, a fully owned subsidiary of Antenna Hungária Rt, rose to Ft 100 million as a result. The transaction will be complete with a Ft 400 million capital raise using the company?s own funds in excess of its registered capital. The merger completes Antenna Hungária?s restructuring plan outlined in 2003, in which the company gradually divested non-core activities within the group and sold subsidiaries and affiliates with such activities, while merging existing core activities to achieve synergies and more streamlined corporate structure.