Hungary’s 4iG has closed the acquisition of a majority (80.27%) stake in ALBtelecom, the leading provider of triple-play services in Albania.
As previously reported by Broadband TV News, the stake was formerly held by Turkey’s Çalik Holding. As part of the transaction, Çalik Holding will now carry out a capital increase of more than HUF8 billion (€20.63 million), acquiring less than 5 % of the shares in the Hungarian info-communication company.
The capital increase will be performed at the price per share of HUF850 as it was preliminarily settled in the agreement. According to 4iG, the collaboration could open up further joint business opportunities for the Turkish and the Hungarian company in the Balkans and Central Asia. It adds that Çalik Holding is committed to Hungary, where the company intends to expand. The remaining minority stake in ALBtelecom is still held by the Albanian Ministry of Economy (13.78%) and the Albanian Post (2.47%), and other shareholders (3.48%).
Commenting on the development, Gellért Jászai, chairman and CEO of 4iG, said: “ALBtelecom is a major player in all fields of telecommunications, a 4P provider that is market leader of landline services in Albania. The company has significant growth potential in mobile and digital solutions that could become one of the key development areas in the future.
“As one of the largest institutional investors in Albania, 4iG is committed to the development of the telecommunications sector and the participation in the digital transformation of the country”.
Ahmet Çalik, president of Çalik Holding, added: “We are pleased that ALBtelecom is now owned by a strategic investor committed to the company. By taking this opportunity, I would like to thank all employees of Albtelecom for their efforts and dedication and we are confident that ALBtelecom will continue to achieve remarkable successes. On the other hand, we strongly believe that our partnership with 4iG will add remarkable value for both parties”.
ALBtelecom has around 153,000 landline voice, 118,000 internet, and 66,000 TV subscribers. It is also the third biggest market player in Albania in the field of mobile services, with 405,000 customers.
The company’s own telecommunications infrastructure includes Albania’s largest 4,500km optical backbone network and 450 mobile stations.