4iG completes Vodafone Hungary takeover

Hungarian telecoms and IT group 4iG, in partnership with the Hungarian State, completed its acquisition of quadruple-play telecoms operator Vodafone Hungary on 31 January 2023, upon payment of the HUF660 billion (USD1.83 billion) purchase price to UK-based Vodafone Group. Under the sale and purchase agreement signed on 8 January, 4iG acquired 51% of Hungary’s second largest telecoms group via its subsidiary Antenna Hungaria, with the Hungarian State taking the other 49% via investment vehicle Corvinus. 4iG – which already controls another prominent Hungarian fixed/mobile/pay-TV network operator DIGI alongside other telecoms divisions including Invitech – announced that the merger with Vodafone ‘will open a new era in Hungarian telecommunications’. It added: ‘Customers will not be affected by the change of ownership. Vodafone services will continue to be available to both residential and business customers in the same form.’