Vodafone UK plans to sell its Hungarian business for nearly HUF 715 billion, or about US$1.8 billion, according to recent reports. In one of the countries of Central Europe
UK Mobile and Broadband Group recently announced that it has agreed non-binding terms with Hungarian buyers 4iG and state-owned Corvinus Zrt. In addition, the deal does not include Vodafone’s VOIS subscription business, which will soon become Hungary’s second largest telecom operator.
“The Hungarian government has a clear strategy to create a national champion in the (information and communication technology) sector that belongs to Hungary,” Vodafone chief executive Nick Reid said in a statement. In addition, the overall sale is said to be completed by the end of 2022. Vodafone’s overall strategy has been under scrutiny since January, when it emerged that Cevian Capital, Europe’s largest activist investor, had taken part in an effort to streamline the group’s sprawling business and sell inferior businesses. As mentioned, the merger of 4iG and Vodafone Hungary will create the second largest mobile and fixed-line operator in the Central European country, making it a strong competitor of Magyar Telekom, a subsidiary of Deutsche Telekom.
According to the Financial Times, 4iG plays a key role in plans to increase penetration in the telecommunications industry. Last year, the company announced that it wants to create a telecommunications provider that properly demonstrates national interests, as well as competitive market services.
If you have read so far, hope you have fair information about the sale of Hungary’s Vodafone trading almost $ 1.8 billion, and now you can determine if you can decide if you think something is appropriate or that’s for This company useful or not Finally, what do you think about the sale of Vodafone in Hungary? Let us know in the comments section below. For more information on such reports, please refer to other articles on our website. Thank you for your time. If you like our content, please share it with your investor friends!