Digi Communications closes EUR 625 mln sale of HU subsidiary
Digi Communications (BVB:DIGI), a telecommunications operator with a capitalization of EUR 830 mln whose shares are included in the main BET index of the Bucharest Stock Exchange, announced on the evening of January 3 that it completed the…
Andrei Chirileasa · Journalist
· Updated · 1 min read
Digi Communications (BVB:DIGI), a telecommunications operator with a capitalization of EUR 830 mln whose shares are included in the main BET index of the Bucharest Stock Exchange, announced on the evening of January 3 that it completed the sale of its Hungarian operations to 4iG Plc. and that it received EUR 625 mln.
The Romanian company says that it will use this amount for the payment of some debts and for investments, including in potential new markets in Western Europe.
Digi said that its Romanian subsidiary (RCS&RDS) and 4iG Plc. (4 iG Plc.) one of the leading companies of the Hungarian IT and ICT market, successfully closed the transaction regarding the acquisition of DIGI Távközlési Szolgáltató Ltd. (Digi Hungary) and of its subsidiaries, Invitel Ltd., Digi Infrastruktúra Korlátolt Felelősségű Társaság and I TV Ltd by 4iG Plc.
Digi Hungary is a leading telecommunications service provider in Hungary, with 23 years of experience and a broad service portfolio covering cable TV, fixed internet and data, mobile telecommunication services, fixed-line telephony and Direct To Home (DTH) services.
It serves more than 1.1 million subscribers nationwide and has over 2.5 million Revenue Generating Units (RGUs) as of 31 December 2020.
In 2020, the Digi Group’s consolidated sales revenue in Hungary was HUF 70 bln (approx. EUR 200 mln), and its adjusted EBITDA reached HUF 19 bln (approx. EUR 54 mln).
(Photo courtesy of the company)
