Hungary’s 4iG has announced the termination of the non-binding term sheet regarding the acquisition of 70% of the shares of TeleGroup Baja Luka.
Commenting on the termination, which was signed jointly with Milomir Gligorijevic, it said: “the parties agreed that the best way forward in accordance with the values of both companies is to continue their partnership and seek future possible business cooperation through a strategic partnership in the Balkans region for IT and Infrastructure projects”.
Broadband TV News notes that last September 4iG agreed to buy a 70% stake in what is a leading IT systems integrator in Serbia, Montenegro and Bosnia& Herzegovina, successfully selling its services in Europe and the Middle East. Like 4iG, it has nearly three decades of experience in the IT and ICT market.
