The second largest telecommunications group in Hungary was born
By merging the portfolios of 4iG and Antenna Hungária, a leading service provider was created in the region.
With another capital increase, 4iG Plc. Increased it to 76.78 percent in Antenna Hungária Zrt. The two Albanian telecommunications companies, ALBtelecom and One Telecommunications, have paid for the capital market company with a contribution of HUF 132 billion, which has already been registered by the Court of Registration. With the establishment of the national communications group, a major strategic process has been completed, with the series of transactions creating the second largest telecommunications group in Hungary, with a significant portfolio of services in the region and the Western Balkans, in the fixed and internet markets Computerworld.
As is well known, 4iG has 80.27 percent indirect ownership in ALBtelecom and 99.8 percent indirect ownership in One Telecommunications.
Efforts to establish a national telecommunications group began in August last year, when 4iG agreed with the Hungarian state to merge the telecommunications portfolio of the capital market company and Antenna Hungária. The aim of the parties’ company with the transaction was to create a group that, due to its efficiency and infrastructure goals, provided services in the domestic and regional telecommunications markets.
4iG contributed its entire telecommunications portfolio to Antenna Hungária by the beginning of April 2022. With the capital increase of HUF 534 billion implemented in two steps, Antenna Hungária became the owner of such telecommunications companies as the Hungarian DIGI Group (DIGI Távközlési és Szolgáltató Kft., Invitel Zrt., DIGI Infrastruktúra Zrt., I-TV Zrt.) , Invitech ICT Kft., the Montenegrin mobile operator ONE Crna Gora, the Albanian 4P operator ALBtelecom and the Albanian mobile operator ONE Telecommunications.
Pursuant to the agreement reached between the Hungarian state and 4iG in August 2021, 4iG has the opportunity to raise additional capital, with which it can acquire up to 80 percent of the medicine in Antenna Hungária.
“As a result of the transformation process, the IT system integrator 4iG Plc. – said Gellért Jászai, President and CEO of 4iG Plc. “In the coming period, we will strive for cooperation and synergies between our companies, and we will further explore our acquisition opportunities in order to increase the market weight of the company group. in the Balkan region, “emphasized Gellért Jászai, President and CEO of 4iG Plc.
As a precondition for the transaction, the parties based their assessment of the goodwill of Antenna Hungária and the in-kind value of the companies involved in the capital increase on the valuation of PwC Hungary and DLA Piper, respectively. The MEIP (Market Economy Investor Principle) test * for the transaction was also performed by the legal advisory firm DLA Piper.
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