4iG agrees 20% Spacecom stake purchase

30 Sep 2022

Hungarian telecoms and IT group 4iG has concluded an agreement to take a 20% stake in Tel Aviv-listed Space Communications (Spacecom), which operates and develops the AMOS satellite systems, in accordance with the prior approval of the Israeli Ministry of Communications. Following an initial public and private share issue, after three years 4iG’s Spacecom stake can be increased by a further 31% to take a majority share, subject to approval by the ministry and shareholders.

Spacecom provides broadcast and broadband satellite services to customers worldwide. Its AMOS-3 satellite holds rights to the Hungarian geostationary orbit until 2024, after which date 4iG’s CarpathiaSat unit owns the right to operate Hungary’s orbit for 20 years. CarpathiaSat aims to utilise Spacecom’s expertise in a plan to launch and operate the first Hungarian telecoms satellite on geostationary orbit, eventually replacing AMOS-3.

TeleGeography notes that the 4iG group’s Hungarian operating divisions include DIGI, Invitel, Invitech, Antenna Hungaria and AH Net, whilst it is in the process of acquiring 100% of Vodafone Hungary. Internationally, the group controls cellco One Montenegro and twin Albanian operators ALBtelecom and ONE Telecommunications (formerly Telekom Albania).

Hungary, Israel, 4iG, Spacecom