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4iG inks deal to acquire majority stake in Vodafone Hungary

9 Jan 2023

Antenna Hungaria, a subsidiary of Hungarian telecoms and IT group 4iG, Corvinus International Investment (acting for the Hungarian State) and Vodafone Group have announced the signing of a binding sale and purchase agreement for 100% of fixed and mobile network operator Vodafone Hungary. Trumpeting what they claim is ‘one of the most significant transactions in the history of Hungarian telecommunications’, the new owners noted that following due diligence, the parties agreed an enterprise value of HUF660 billion (USD1.78 billion) for Vodafone Hungary. The financial closing of the transaction is expected on 31 January 2023, with 4iG Group acquiring a 51% indirect controlling stake and the Hungarian State acquiring a 49% indirect stake in Vodafone, the second largest player in the Hungarian market. As previously reported by TeleGeography’s CommsUpdate, the deal was first revealed in August 2022.

‘The acquisition of Vodafone Hungary opens a new chapter in the Hungarian telecommunications market. It is the first info-communications group in almost thirty years that can operate as a Hungarian majority-owned convergent operator’, said 4iG chairman Gellert Jaszai, adding: ‘The strategic cooperation between the Hungarian state and 4iG in this transaction will not only transform the market but also improve competitiveness and accelerate the digital transformation of the economy.

TeleGeography’s GlobalComms Database says that Vodafone Hungary and 4iG’s subsidiary DIGI held respective 21.2% and 20.9% fixed broadband subscription market shares at end-September 2022, behind market leader Magyar Telekom (42.8%). In Hungary’s mobile market, Vodafone claimed a 26.2% share at the same date, behind Yettel (26.4%) and Magyar Telekom (45.4%), while DIGI remains a minnow in the mobile sector with 1.9% of subscriptions at that date, according to GlobalComms. 4iG also highlighted that the Vodafone Hungary takeover will make the enlarged group the national pay-TV market leader.

Hungary, 4iG, Antenna Hungaria, DIGI (Hungary), UPC Hungary (part of Vodafone), Vodafone Group, Vodafone Hungary

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