4iG secures final agreement for acquisition of Hungary's Digi

4iG Nyrt. reached a final agreement for the acquisition of Romania Cable & Data Systems' Hungarian subsidiary Digi Távközlési és Szolgáltató Kft.

The transaction value is €625 million, equivalent to approximately 232 billion Hungarian forints, according to a Nov. 30 news release.

The transaction is expected to close in January 2022, subject to regulatory clearance.

Digi owns about 2,300 base stations, and the DigiMobil service provides outdoor mobile coverage to more than 90% of the population across Hungary.

The Digi acquisition is expected to aid 4iG in the creation of a national telecom and telecom infrastructure company by combining public and private capital, wherein the platform company will be Antenna Hungária Zrt.

4iG will transfer its telecom interests to Antenna Hungária under an agreement with the state, giving 4iG a majority stake in the company.

Digi Communications NV owns Romania Cable & Data Systems.

As of Nov. 30, US$1 was equivalent to 324.07 Hungarian forints.