Technology NewsWe know how much and when Vodafone will be...

We know how much and when Vodafone will be owned by 4iG and the state

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On behalf of the Hungarian State, Corvinus International Investments Zrt. buys a 49 percent share of Vodafone Hungary.

Minister of Economic Development Márton Nagy announced on the first public working day of 2023 that after the due diligence of Vodafone Hungary has taken place (financial closure is expected to take place on January 31, 2023), Corvinus International Investment Zrt., the Antenna Hungária Zrt., operating as a subsidiary of 4iG Nyrt., and Vodafone Europe BV signed the agreement with the Hungarian telecommunications company zrt. about your purchase.

As a result of the largest HUF 660 billion transaction of the post-system change period, Antenna Hungária acquires 51 percent indirect ownership, while Corvinus Zrt., acting on behalf of the Hungarian State, acquires 49 percent indirect ownership in the second largest domestic telecommunications company from Vodafone Europe BV, making Corvinus the financial sector, it acquires an important share in another sector of strategic importance from the point of view of the national economy, the telecommunications sector.

Vodafone Hungary cannot provide any further information regarding the transaction.
At the same time, it is important to emphasize that Vodafone Hungary’s business is uninterrupted and continuous, and its services are fully operational and of the usual high quality. The service provider remains committed to excellent customer experience and the digital development of Hungary.

THE national strategic transaction according to the official announcement, it contributes to the strengthening of market competition, the reduction of costs, and the further strengthening of the service level, thereby providing additional benefits to customers – the announcement states.

“The purchase of Vodafone Hungary opens a new chapter in the domestic telecommunications market. After almost thirty years, the first group of infocommunications companies that can operate as a convergent service provider owned by a Hungarian majority is being created.” – said Jászai Gellért, the president of 4iG Nyrt. “The strategic cooperation of the Hungarian state and 4iG in the transaction can result in the transformation of the market, the improvement of competitiveness and the acceleration of the digital transformation of the economy,” emphasized the president of the company group.

As you know, Vodafone Hungary is the second largest player in the domestic telecommunications market, providing mobile, TV, broadband internet and landline phone services to more than 3.8 million residential and business subscribers, and the company employs more than 3,000 employees.

After the closing of the transaction, the joint portfolio of the 4iG Group (DigiMobil) and Vodafone will be the second largest in the field of mobile voice and internet services, which provide the highest sales revenue. Thanks to the acquisition, 4iG acquires a market-leading position in the field of wired Internet services, and also becomes a market leader in the television broadcasting market. According to preliminary calculations, after the closing of the acquisition, the telecommunications companies belonging to the 4iG group will have a total of 7.6 million RGUs (revenue-providing subscriptions) in Hungary.

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