We remind that 4iG bought One Telecommunications in 2021. It also began the procedure for ALBtelecom purchase.
Vodafone, a British telecoms company, announced Monday that it has agreed to sell its Hungarian business and assets to 4iG and the Hungarian government for 1.7 billion Euros.
Vodafone announced Monday that the sale would pay off the company’s debts. Vodafone, once the largest mobile operator in the world, has been steadily selling assets to make way for its European and African operations under chief executive Nick Read.
4iG was the company that purchased in Albania the mobile operator One as well as the fixed and mobile operator ALBtelecom. It announced at the start of the year the merger of both companies.
According to the plan 4iG will own 51% and the Hungarian state 49% of the shares. This month’s sale is expected to be completed.
Albanian regulators conducted an analysis of the deal. They found that the possible acquisition of both companies would reduce the number mobile operators to two.
We remind that 4iG bought One Telecommunications in 2021. It also began the procedure for ALBtelecom purchase.
One and ALBtelecom informed their subscribers by SMS and advertising campaigns, that the two companies would merge on January 1, 2023.
Authorities fear that a reduction of the number operators to only two from four ten years ago will lead to lower prices and higher costs for end consumers.
Albania now has two mobile operators: One and Vodafone. Both offer fixed and wireless services. Vodafone entered the fixed services sector at the close of 2019, after the acquisition by ABCom of the fixed operator.