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Vodafone Hungary in domestic ownership


Press release

Vodafone Hungary in domestic ownership

The most significant transaction in the history of Hungarian telecommunications successfully closed

  • On 31 January, the acquisition of Vodafone Hungary Telecommunications Zrt. (Vodafone Hungary) was completed upon payment of the purchase price.
  • According to the sale and purchase agreement signed on 8 January, 4iG Plc acquired 51 percent and the Hungarian State acquired 49 percent indirect influence in the second largest telecommunications company on the Hungarian market.
  • The enterprise value (EV) of Vodafone Hungary disclosed in the transaction is HUF 660 billion.
  • The merging of 4iG Group and Vodafone Hungary will open a new era in Hungarian telecommunications.
  • 4iG, with a strong telecoms and IT portfolio in Hungary and the Western Balkans region, has the potential to become one of the region's leading technology-info communications players in a few years.

With the financial settlement of the purchase price on 31 January 2023, the acquisition of Vodafone Hungary Zrt., one of the most significant market-shaping transactions in the history of Hungarian telecommunications, was closed, 4iG Plc announced on the Budapest Stock Exchange. With the successful acquisition, Antenna Hungária Zrt. acquired a 51 percent controlling stake and Corvinus Nemzetközi Befektetési Zrt. (Corvinus International Investment Ltd.), a Hungarian State-owned company, acquired a 49 percent indirect stake in Vodafone Hungary Zrt.

As a result of the acquisition, Vodafone Hungary's mobile frequencies, active radio transmission equipment, active antennas and cables, part of the outdoor cabinets, as well as the uplink and optical network serving the towers, have been transferred to the new owners.

Customers will not be affected by the change of ownership. Vodafone services will continue to be available to both residential and business customers in the same form.

The national group of companies, formed by the merger of the fixed and mobile communications portfolios of 4iG Group and Vodafone Hungary, has become the second largest mobile voice and internet operator in Hungary, and the market leader in fixed internet services and television broadcasting. The telecommunications companies in which the Group has a stake have a total of 7.6 million RGU (revenue generating subscriptions) in Hungary.

The transaction will enable the 4iG Group to reopen the market in a number of service areas and play a key role in the digital transformation of the Hungarian economy, while strengthening its role in the region in the field of info-communications services.

Budapest, 31st January 2023

Background information:

4iG Group
4iG Plc, a Hungarian majority-owned company based in Budapest, Hungary is the leading telecommunications and IT group in Hungary and the Western Balkan region and one of the leading companies in the knowledge-based, digital economy. The Budapest Stock Exchange listed capital market company’s fresh and innovative approach and its position as Hungary's leading IT systems integrator make the group a leading residential and business service provider in the region's digital transformation. 4iG’s dynamic expansion strategy has made it a key player in the telecommunications markets in Hungary and the Western Balkans. The Group is continuously expanding its services, expertise, and portfolio to meet the changes and needs of the telecommunications and IT markets. The 4iG Group currently employs nearly 9,000 people.

Vodafone Magyarország Zrt.
Vodafone Hungary has one of the most advanced digital infrastructures among fixed voice and internet, cable TV and mobile operators in Hungary. The company’s business solutions provide a wide range of digitalisation services to the enterprise and government sectors in the areas of data network solutions, virtual data centres and IoT technologies. Vodafone was the first company in Hungary to offer 5G services to its subscribers, and the company’s next-generation mobile service is continuously expanding nationwide with hundreds of base stations in Budapest and the Balaton region. Vodafone is the absolute second largest player in the Hungarian market in terms of subscriber share, serving more than 3.8 million residential and business subscribers (3 million mobile, 800,000 fixed), with more than 5 million revenue generating subscriptions (RGU - Revenue Generating Unit, 3 million mobile, 700,000 TV, 700,000 broadband, 600,000 fixed voice) as of July 2022. In the 2021-2022 financial year, Vodafone Hungary had IFRS revenues of HUF 278 billion and EBITDA of over HUF 93 billion. The company has more than 3,000 employees.

More information:

Péter Elkán
Group Head of Corporate Affairs and Communication
sajto (@)