Digi Communications, one of the most important telecom groups in Romania and Hungary, finalized on Wednesday, May 30, the acquisition of Hungarian telecom operator Invitel for EUR 135.4 million. The transaction was signed in July 2017.

Invitel is the second-largest incumbent fixed line telecommunications and broadband internet services provider in the residential and small business customers segment in Hungary.

“This transaction will allow the group to consolidate its position on the Hungarian telecommunications market, and to expand its customer reach and experience, as well as to create better operational synergies,” reads a report to Digi Communications’ shareholders.

To get this transaction approved by the Hungarian competition authority, Digi agreed to sell some of its existing operations in the country.

Invitel had revenues of about EUR 83.3 million and an operational profit EBITDA of EUR 24.4 million in 2017. The company had close to 700,000 clients for its cable TV, broadband internet and fixed telephony services.

Digi Communications had revenues of EUR 917 million in 2017, its operations in Hungary amounting to EUR 150 million.

editor@romania-insider.com