4iG transfers stakes in ONE in Albania, Albtelecom to Antenna Hungaria as part of a cap increase
TIRANA (Albania), April 14 (SeeNews) – Hungarian IT services management company 4iG has announced that it has raised the capital of local telecommunications group Antenna Hungaria by 132 billion Hungarian forints ($382.6 million/350.8 million) by contributing its indirect stakes of 80.27% in Albtelecom and 99.8% in One Telecommunications, both based in Albania.
Following the transaction, which is part of a larger agreement with the Hungarian government to create a large national telecommunications group, 4iG holds a 76.78% stake in Antenna Hungaria, while the Hungarian state in owns 23.22%, 4iG said in a statement earlier this week.
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4iG completed the acquisition of majority stakes in Albtelecom and One Telecommunications in March.
4iG agreed with the Hungarian government in August to transfer its entire telecommunications portfolio to Antenna Hungaria by early April as part of a plan to create a large national telecommunications group. Under the agreement, 4iG transferred ownership of the local DIGI group and Invitech ICT Kft, as well as Telenor Montenegro to Antenna Hungaria in February.
The entire telecom portfolio that 4iG transferred to Antenna Hungaria was valued at HUF 534 billion.
4iG’s largest shareholder is its CEO, Gellert Jaszai, who indirectly owns 56.85% of the company’s capital, according to an earlier statement from 4iG.
(1 euro = 376.301 Hungarian forints)