Antenna Hungária Zrt., a subsidiary of 4iG Nyrt., Corvinus International Investment Zrt. (Corvinus) representing the Hungarian State and Vodafone Europe BV have today signed the binding sale and purchase agreement of 100% shares in Vodafone Magyarország Zrt. (‘Vodafone Hungary’ or ‘the Target’), 4iG announced.

Following the due diligence, the parties have determined the Enterprise Value of the target company at HUF 660 billion. The financial closing of the transaction is expected on January 31 with 4iG Nyrt. acquiring a 51% indirect controlling stake and the Hungarian State acquiring a 49% indirect stake in Vodafone Hungary, the second largest telecommunications company on the Hungarian market. The market-shaping transaction will allow 4iG Group to strengthen its role as a convergent operator in all areas of the market.

In addition to being one of the largest acquisitions in terms of volume since the regime change, the national group created by the merger of fixed and mobile telecoms portfolios of 4iG Group and Vodafone Hungary will reopen the market in numerous service areas and strengthen its role in offering convergent telecoms services, 4iG claims.

"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 Gellért Jászai, Chairman of 4iG Nyrt. “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,” stressed the Chairman of the Group.

According to Umlaut's 2022 survey, Vodafone is the leading mobile network in Hungary in terms of voice and data reliability with 800.000 fixed line customers and 3 million mobile customers. With the transaction, 4iG and the Hungarian state will acquire Vodafone Hungary’s mobile frequencies, active radio transmission equipment, active antennas and cables, part of the outdoor cabinets, as well as the uplink and optical network serving the towers. The acquisition of Vodafone Hungary could also significantly reshape the market power balance in Hungary, and the state-of-the-art solutions and innovative technologies will enable 4iG Group to play a leading role in the digital transformation of the Hungarian economy.

Following the closing of the transaction, the combined portfolio of 4iG Group (DigiMobil) and Vodafone will be the second largest in the mobile voice and internet services market, which is the largest revenue generator. Due to the acquisition 4iG secures market leader position in fixed line internet services, and will become market leader in the television broadcasting market as well. According to preliminary calculations, the telecoms companies owned by the 4iG group will have a total of 7.6 million RGUs (revenue generating units) in Hungary after the closing of the acquisition.