4iG has increased its stake in Antenna Hungaria creating what it claims to be the second-largest telecoms group, as it looks to take on the market leader and Deutsche Telekom-owned Magyar Telekom.
In a statement, 4iG revealed it boosted its shares in Antenna Hungaria to 76.8% for HUF132 billion (US$378m) with the Hungarian state holding 23.22%, marking its second capital increase in the company.
The transaction was fuelled by putting up majority stakes in 4iG’s recently acquired Albanian units ALBtelecom and One Telecommunications, 80.27% and 99.8% respectively.
The acquisition of Antenna Hungaria shares completed “main strategic steps” in the government’s ambition to see the creation of a national telecommunications group with the infrastructure and portfolio to take on rivals domestically and across borders in the West Balkans.
As a result of this deal Antenna Hungaria is now the owner of the following companies: DIGI Group, Invitech ICT, Montenegro-based One Crna Gora, ALBtelecom, and One Telecommunications.
“The acquisitions accomplished over the past year have completed the process of transformation that resulted in 4iG evolving from an IT systems integrator company into an international info-communications group providing a wide range of telecommunications and IT services", said Gellért Jászai, 4iG chairman and CEO.
“In the coming period, we will seek to leverage synergies and collaborations between our companies and we will continue to explore acquisition opportunities to increase the market share of the Group. In 2022 we strive to enter the B2C segment with our telecommunications services under a single brand name and with a new strategy, not only in Hungary but also in the Western Balkans region”.