4iG to implement US$1.28B capital raise for Antenna Hungária acquisition

Hungarian IT company 4iG Nyrt. said Feb. 22 that it will carry out a capital raise worth 402 billion forints for its acquisition of a 71.6% stake in Antenna Hungária Zrt.

Under the scheme, 4iG will transfer its entire stakes in recently acquired company DIGI Távközlési és Szolgáltató Kft. and its subsidiaries, Invitech ICT Kft., and mobile operator Telenor Montenegro to Antenna Hungária. The Hungarian government will retain a 28.4% stake in the state-owned broadcast infrastructure operator.

4iG will eventually be able to boost its ownership of Antenna Hungária to a maximum of 80% through contributing its other telecom holdings.

The transaction is expected to combine 4iG and Antenna Hungária's telecom interests, resulting in an expanded range of infrastructure and service offerings for business and retail customers in central and Eastern Europe.

Deal completion is targeted for mid-March, subject to closing conditions such as registration with the Companies Registry Court and the issuance of the new shares.

As of Feb. 21, US$1 was equivalent to 314.53 Hungarian forints.