Hungary’s 4iG has announced an extension to the deadline for meeting the closing conditions of its acquisition of a 51% stake in the satellite operator Spacecom.
In a statement addressed to investors and financial and capital markets, it says that its subsidiary Hungaro Digital – HDT, through which the transaction is being undertaken, and Spacecom have signed an amendment to the contract concluded between the parties on October 11, 2021 agreeing to extend the deadline for the fulfilment of the condition precedents until February 28, 2022.
As previously reported by Broadband TV News, HDT, entered into a final agreement with Spacecom last October to acquire a 51% stake in the company.
Although the successful completion of the transaction, which is worth $68 million, was then left in the hands of the general assembly of Spacecom and Israel’s Communication Ministry, the latter has so far refused to sign off the deal.
