4iG Group announced that it is acquiring a 100 percent stake in PR-Telecom Távközlési Zrt (PR-Telecom), a regional fixed line telecommunication operator in Hungary. The buyout of the regional 3P telecoms company, which provides television, internet and fixed telephone services, will allow 4iG Group to further increase the number of customers and fixed network coverage in Hungary.

PR-Telecom Plc. has a 25-year history, and since its foundation it has been entirely Hungarian-owned and currently employs 160 people. The operator offers TV, internet and telephone services in ten provinces, in more than 200 settlements, and its customer base has grown dynamically in recent years. The company currently serves 250,000 households and 55.000 customers with high quality services over its own fixed fibre and mixed fibre-coax infrastructure. PR-Telecom has a network of approximately 3400 kilometers, of which the main network covers 1000 kilometers and the Fiber to Home network 670 kilometers.

„The buyout of PR-Telecom is a good opportunity for us to expand our optical network and coverage in Hungary. The transaction allows us to strengthen our leadership further in the fixed segment, and in some areas spares time and resource of intensive network expansion investments. LWith synergies and cross-selling opportunities, and development of the network, we will be able to offer PR-Telecom customers a higher quality and wider range of services in the future. We continue to rely on the management and employees of PR-Telecom in future operations," said Péter Fekete, CEO of 4iG Group.

The former owners of PR-Telecom continue to participate in managing the company after the closing of the deal. Following the transaction, Marina Szunyoghné Fojt, the company’s current Board of Directors member gets the position of CEO, while Zoltán Fojt remains Chief Operating Officer.

„This acquisition is useful from business as well as customer point of view. To further develop our network and serve our customers with higher quality, it is essential to have the contribution of a big company like 4iG with capital, resources and expertise,” said Marina Szunyoghné Fojt. "I am proud of our 25-year history, the progress and achievements we reached together with our colleagues. But now it’s time to step to a higher level, where 4iG Group as the new owner is a guarantee for our employees and our customers".

The transaction is expected to close in Q4 2024, following the approval of the Hungarian Competition Authority (GVH). PR-Telecom's customers will not be affected by the change of ownership and will continue to benefit from the telecommunications company’s services regardless of the transaction.