Digi Communications has completed the sale of its Hungarian assets to the IT and telecom company 4iG.
According to Digi, this follows the completion of the conditions set by the parties in the sale and purchase agreement, signed by each side on November 29, 2021.
Commenting on the transaction, which is worth around €625 million, Serghei Bulgac, CEO of Digi Communications, said: “Following 23 years of continuous development, Digi is handing over to the 4iG operator a competitive business with exceptional results, whose impact on the telecommunications market will be remembered for many years to come. We would like to thank our customers for their trust during this long period – without them none of this would have been achieved. I am grateful, as well, to all my colleagues in Hungary for their professionalism, perseverance, loyalty and their contribution to the company’s evolution. Thanks to these qualities, together we have built a business that we are proud of, that has successfully achieved its growth targets, which has provided its customers with quality, affordable services, based on the latest technology. We wish them and their colleagues at 4iG the best of luck and we look forward to hearing news that will make us proud of the development of the story we’ve started”.
Digi is now expected to use the funds from the transaction to expand into Western Europe and also pay off some of its debut.
Through RCS&RDS, it remains the leading provider of electronic communications services in Romania.
