Hungarian operator 4iG and the government sealed the acquisition of Vodafone Hungary, a major move in a series of acquisitions to mount a challenge against market leader and Deutsche Telekom–owned, Maygar Telekom.
The operator made its deadline of January 31 to complete the deal. Its subsidiary Antenna Hungaria now holds a 51% stake while 49% is in control of state-owned company Corvinus Nemzetközi Befektetési (Corvinus International Investment).
4iG said in a statement, Vodafone Hungary’s assets such as spectrum, active radio equipment, antennas, and cables have been transferred over. Vodafone customers will not see a service disruption as a result of the transfer.
The operator claimed with the merger of Vodafone Hungary, the newly formed company “has become the second largest mobile voice and internet operator in Hungary”, and the leader in fixed internet services and television broadcasting. This claim was measured in revenue-generating subscriptions which totalled HUF7.6 million.
The deal was agreed upon in August last year as Vodafone Group carried out its strategy to focus on core markets and bring down debt. Vodafone Hungary was the second largest operator by subscribers with three million mobile connections (as of July 2022).
With backing from the government which saw a competition problem rising, 4iG has been on an acquisition and merger strategy to challenge market leaders Maygar Telekom and expand its presence in the West Balkans. It acquired more shares in Antenna Hungaria, fully purchased DIGI Hungary, and expanded its presence in Albania through ONE Telecom and ALBtelecom.