Hungary’s 4iG is on track to become the leading player in the Albanian telco market, having entered into a final agreement to buy One Telecommunications for an undisclosed fee.
According to 4iG, the acquisition marks another step in its expansion strategy in the Western Balkans and could be completed following regulatory procedures in Albania. One Telecommunications is the second largest and fastest-growing mobile operator in Albania with 1.36 million subscribers. Last year, it achieved revenues of €68.1 million with an EBITDA of €20.8 million. It has 632 transmission towers suitable for 5G mobile communications in addition to 4G/LTE services.
Commenting on the transaction, Gellért Jászai, chairman and CEO of 4iG, said: “Thanks to its telecoms network, which was renewed last year, One Telecommunications is an operator with strong growth potential and will fit well into our Western Balkan telecoms portfolio once the acquisition is completed. We are proud that with the acquisition of One Telecommunications and ALBtelecom, 4iG Group will become one of the largest investors in Albania and the largest player in the Albanian telco market. We have come to the country as a professional investor with a long-term vision to be present in the country, providing high quality services to residential and business customers”.
Elvin Guri, majority shareholder One Telecommunications, added: “During the past three years, One Telecommunications was transformed into the best mobile service provider in Albania. Our achievements would not have been possible without the work and dedication of all the employees of the Company. This sale is a further validation of their professionalism and of our efforts to bring change to the Albanian mobile market. We are confident that, in the capable hands of 4iG, One Telecommunications and its employees shall continue to flourish”.
As previously reported by Broadband TV News, in early December, 4iG has signed a final agreement to acquire 80.27% of the shares of ALBtelecom, a majority-owned subsidiary of Turkey’s Çalik Holding, for an undisclosed fee.
