By Stuart Thomson
Hungarian IT outfit and service provider 4iG has upped its stake in local transmission services company and digital-terrestrial TV service provider Antenna Hungária to 76.78 per cent. The transaction is part of a move supported by the Hungarian government to create a national telecommunications group to compete with Deutsche Telekom-owned Magyar Telekom.
4iG’s acquisition of a majority stake in Antenna Hungária for HUF132 billion(US$379.6million) was completed through contributing in two Albanian telecommunications companies, ALBtelecom and One Telecommunications to raise the capital of the company.
The Hungarian state holds the residual 23.22 per cent stake in Antenna Hungária.
The state has promoted the idea of creating a national champion in telecommunications, to which 4iG has contributed its entire telecoms portfolio.
The complex transaction, in the form of dual-phased capital increase worth HUF534 billion, saw Antenna Hungária take control of 4iG’s Digi Group, the Hungiarian service provider acquired from Romania’s Digi, and invitech, another local service provider, as well as Montenegrin mobile operator ONE Crna Gora, Albanian service provider ALBtelecom and Albanian mobile operator ONE Telecommunications.
4iG says that the resulting company is the second largest telecom group in Hungary with a portfolio of fixed voice, internet and TV customers, as well as broadcasting and mobile services across the region and the western Balkans.
“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,” said chairman-CEO of 4iG Plc, Gellért Jászai,.
“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.”
