The decision comes after years during which the Romanian operator had to cope with a hostile environment – fines after fines, difficulty of securing approvals for certain deals and on top of that Budapest’s refusal to accept Digi’s participation in the 5G auction.
“The company would like to inform its investors and the market that the company’s Romanian subsidiary and 4iG Plc. entered into a preliminary, non-binding agreement regarding the acquisition of Digi Hungary and its subsidiaries. Pursuant to the understanding of the parties, 4iG would acquire a 100 percent stake (…). The acquisition is aimed to be completed by September 2021,” Serghei Bulgac, Digi CEO notified investors.
The buyer of Digi’s operations, a business that had grown to EUR200 million and more than 1.1 million subscribers in 23 years, is 4iG, a buyer backed by an investment vehicle (Konzum Management), in which a business ally of prime minister Viktor Orban, Lorinc Meszaros, owns stake, according to Reuters.
(English version by Loredana Fratila-Cristescu)