Technology NewsThe subsidiary of 4iG concluded credit agreements for the...

The subsidiary of 4iG concluded credit agreements for the purchase of Vodafone

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Antenna Hungária Zrt., a subsidiary of 4iG Nyrt., Corvinus International Investment Zrt., representing the Hungarian State, and Vodafone Europe BV signed the purchase agreement for the purchase of 100% of the shares of Vodafone Magyarország Távközlési Zrt. (Vodafone Magyarország).

Antenna Hungária Zrt., which is the certified majority property of 4iG Nyrt., has concluded loan agreements with MFB Magyar Fejlsztési Bank and other credit institutions for the purpose of financing the acquisition of a 51 percent ownership share in Vodafone Magyarország Zrtn – was published by 4iG on the website of the Budapest Stock Exchange (BÉT).

The infocommunications company indicated that the government’s decision regarding the loan agreement with MFB was published in the Magyar Közlöny on January 8. According to this, in the case of a loan of up to 425 million euros, the Hungarian state bears an irrevocable guarantee of up to 80 percent of the capital claim.

Minister of Economic Development Márton Nagy announced on Monday that Corvinus International Investment Zrt., Antenna Hungária Zrt., a subsidiary of 4iG Nyrt., and Vodafone Europe BV signed the agreement on the purchase of Vodafone Magyarország Távközlési Zrt.

According to the announcement, with the HUF 660 billion transaction, Antenna Hungária acquires 51 percent, while Corvinus Zrt., acting on behalf of the Hungarian state, acquires 49 percent indirect ownership from Vodafone Europe BV in the second largest domestic telecommunications company. This is the largest corporate acquisition of the post-system change period. The due diligence of Vodafone Hungary has been completed, the financial closing is expected to take place on January 31, 2023 – they indicated.

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