Telecommunications

4iG finalizes the acquisition of Albanian ONE Telecommunications

TIRANA (Albania), March 22 (SeeNews) – Hungarian IT service management company 4iG has announced that it has completed the acquisition of a 99.899% indirect stake in Albanian ONE Telecommunications for an undisclosed amount, shortly after acquiring a majority stake in another Albanian telecommunications operator, Albtelecom.

The acquisition of ONE Telecommunications was finalized after obtaining approval from the Albanian competition authority, 4iG said in a statement on Monday.

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“With ALBtelecom, in which 4iG has a stake, a market leader has been created in fixed and mobile telecommunications services in the Albanian telecommunications market,” 4iG said.

ONE Telecommunications is the second mobile operator in Albania with 1.36 million subscribers. The company generated earnings before interest, tax, depreciation and amortization (EBITDA) of €27 million ($29.7 million) in 2021, up 28.5% year-over-year.

Earlier in March, 4iG completed the acquisition of an 80.27% stake in Albtelecom from Cetel Telecom, a majority-owned subsidiary of Turkish diversified holding company Calik Holding. Albtelecom is the largest fixed telecommunications provider and the third largest mobile operator in Albania.

In December, 4iG also finalized the acquisition of the entire capital of Telenor Montenegro from the Dutch group PPF.

($ = 0.9094 euros)