Hungary’s 4iG has increased its stake in Antenna Hungária to 76.78% in a transaction worth HUF132 billion (€348 million).
It was undertaken through the contribution of the majority stakes in two Albanian telecommunications companies, ALBtelecom (80.27%) and One Telecommunications (99.8%). 4iG notes that last August it agreed with the Hungarian state to create a national telecommunications group by merging the telecommunication portfolio of the capital market company with Antenna Hungária. The aim of the participants was to create a group of companies by the transaction that, thanks to its size, efficiency and infrastructure, can provide competitive services in the domestic and regional telecommunications markets.
According to the agreement, 4iG has contributed its entire telecoms portfolio to Antenna Hungária by the beginning of April 2022. As a result of the dual phased capital increase a worth total of HUF 534 billion, Antenna Hungária became the owner of following telecommunications companies: Hungarian DIGI Group(DIGI Távközlési és Szolgáltató Kft., Invitel Zrt., Digi Infrastruktúra Zrt., i-TV Zrt.), Invitech ICT Kft, as well as Montenegrin mobile operator ONE Crna Gora, Albanian 4P (broadband internet, tv, voice and mobile) provider ALBtelecom and Albanian mobile operator ONE Telecommunications. The transaction created the second largest telecommunications group in Hungary with a significant portfolio of fixed voice, internet and TV, as well as broadcasting and mobile services in the region and the Western Balkans.
Commenting on the development, Gellért Jászai, Chairman-CEO of 4iG, said: “The acquisitions accomplished over the past year have completed the process of transformation that resulted in 4iG Plc evolving from an IT systems integrator company into an international info-communications group providing a wide range of telecommunications and IT services.
“In the coming period, we will seek to leverage synergies and collaborations between our companies and we will continue to explore acquisition opportunities to increase the market share of the Group. In 2022 we strive to enter the B2C segment with our telecommunications services under a single brand name and with a new strategy, not only in Hungary but also in the Western Balkans region”.
According to the agreement concluded between the Hungarian State and 4iG in August 2021, 4iG has the possibility to further increase its capital and acquire up to 80% stake in Antenna Hungária.