Telecommunications

Hungarian 4iG to acquire Albanian ONE Telecommunications

TIRANA (Albania), December 27 (SeeNews) – Hungarian IT services management company 4iG has announced that it has signed a definitive contract to take over Albanian company ONE Telecommunications for an undisclosed sum, shortly after agreeing to acquire a stake majority stake in another Albanian telecommunications operator, Albtelecom.

The transaction is expected to close after receiving regulatory approval in Albania, 4iG said in a press release last week.

“By focusing on the mobile market, the portfolio of ONE and ALBtelecom, a provider of fixed and mobile services, could create significant synergies,” the Hungarian company said, adding that the two acquisitions would make 4iG the largest in the Albanian telecommunications market. sector.

ONE Telecommunications is the second mobile operator in Albania with 1.36 million subscribers. The company generated revenue of €68.1 million ($77.1 million) and earnings before interest, tax, depreciation and amortization (EBITDA) of €20.8 million in 2020.

Earlier in December, 4iG announced that it had signed a definitive contract to buy an 80.27% stake in Albtelecom from Cetel Telecom, a majority subsidiary of Turkish diversified holding company Calik Holding. Albtelecom is the largest fixed telecommunications provider and the third largest mobile operator in Albania.

4iG also finalized last week the acquisition of the entire capital of Telenor Montenegro from the Dutch group PPF.

($ = 0.8832 euros)

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