Romanian telecom group Digi Communications (DIGI) has signed a non-binding agreement with Hungarian IT&C group 4iG for the sale of its operations in Hungary.

The transaction targets Digi Hungary, Invitel, and I TV Ltd. The acquisition is aimed to be completed by September 2021, subject to the due diligence of Digi Hungary and its subsidiaries, the signing of a sale and purchase agreement, and the necessary competition authority approvals, Digi Communications announced.

The group's announcement comes after it lost any chance of getting a 5G license in Hungary. In February, Hungary's High Court rejected Digi's court action against the Hungarian telecom regulator's decision to exclude the group from its tender for 5G licenses, G4media.ro reported.

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 December 31, 2020.

In 2020, the group's consolidated sales revenues in Hungary reached about EUR 200 million, and its adjusted EBITDA reached EUR 54 million.

4iG Plc. is one of the leading companies in the Hungarian IT and ICT market, playing a leading role in Hungary's knowledge-based digital economy. 4iG has been present in the field of industry and industry-independent innovative technologies for more than 25 years. 

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andrei@romania-insider.com