Menu
  • Home
  • London Exchange
  • Euronext
  • Australian Exchange
  • Wire
  • Contact Us
  • Business & Finance
NewsnReleases

Vodafone Group to sell Vodafone Hungary for €1.8 billion

Posted on August 22, 2022October 24, 2023
 Vodafone Group to sell Vodafone Hungary for €1.8 billion

LONDON, UK:Vodafone Group has entered into heads of terms with 4iG Public Limited Company and Corvinus Zrt in relation to the potential sale of 100% of Vodafone Magyarország Távközlési Zrt (Vodafone Hungary) for a total cash consideration equivalent to an enterprise value of HUF 715bn (€1.8bn).

This represents a multiple of 9.1x Adjusted EBITDAaL for the 12-month period ending 31 March 2022.

Vodafone Hungary is one of the leading converged network operators in Hungary and a combination with 4iG will create a clear #2 operator across mobile and fixed communications with broader ICT (Information and Communications Technology) capabilities. It also supports the Hungarian state’s goal of creating a national ICT champion.

The combination with 4iG is complementary, with limited overlaps and the addition of Vodafone Hungary’s infrastructure to the 4iG group will create a stronger competitor to the incumbent operator.

Nick Read, Chief Executive of Vodafone, said: “The Hungarian Government has a clear strategy to build a Hungarian owned national champion in the ICT sector. This combination with 4iG will allow Vodafone Hungary, which has a proud history of success and innovation in the country, to play a major role in the future growth and development of the sector as a much stronger scaled and fully converged operator. The combined entity will increase competition and have greater access to investment to further the digitalisation of Hungary.”

The transaction is subject to completion of confirmatory due diligence, the Parties entering into binding transaction documentation and obtaining regulatory approval. The Parties are targeting completion by the end of 2022.

Vodafone’s shared services business in Hungary – VOIS – is not included in the transaction perimeter and it will continue to provide services to Vodafone’s other operating companies.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Track all markets on TradingView

Investing.comThe Exchange Rates are powered by Investing.com.

Site Navigation

  • Home
  • Listed Companies
  • Contact Us
  • London Stock Exchange
  • Singapore Exchange
  • Canadian Exchange
  • Australian Exchange
  • Oslo Bourse
  • PSX
  • Ratings
  • Euronext
  • MENA
  • Nasdaq Nordic
  • Wire
  • Business & Finance
  • Gadget Reviews
  • About Us: A Comprehensive Financial News Database

All news and articles on NewsnReleases are based on press releases, corporate announcements and analysts’ reports issued to London Stock Exchange (LSE), Euronext, Singapore Exchange (SGX), Japan Stock Exchange (JPX), Dubai Financial Market (DFM), Saudi Stock Exchange (Tadawul), Qatar Stock Exchange (QSE), BSEIndia, Australia Stock Exchange etc.

Listed Companies

Equity Markets and Stock Exchanges

NNR
©2025 NewsnReleases | WordPress Theme by Superb WordPress Themes