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Hungary's 4iG to buy Albania's ONE Telecommunications

Hungary's 4iG to buy Albania's ONE Telecommunications Author: Flazingo Photos. License: Creative Commons, Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

TIRANA (Albania), December 27 (SeeNews) - Hungarian IT service management company 4iG said it has signed a final contract to take over Albania's ONE Telecommunications for an undisclosed amount, shortly after agreeing to buy a 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.

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"With its focus on the mobile market, the portfolio of ONE and ALBtelecom, a fixed and mobile services provider, could create significant synergies," the Hungarian company said, adding that the two acquisitions would make 4iG the most prominent player in the Albanian telecommunications sector.

ONE Telecommunications is the second-largest mobile operator in Albania with 1.36 million subscribers. The company generated revenues of 68.1 million euro ($77.1 million) and earnings before interest, taxes, depreciation, and amortisation (EBITDA) of 20.8 million euro in 2020.

Earlier in December, 4iG said it has signed a final contract to buy a 80.27% stake in Albtelecom from Cetel Telecom, a majority-owned subsidiary of Turkey’s diversified holding company Calik Holding. Albtelecom is the largest landline telecommunications provider and the third largest mobile operator in Albania.

4iG also completed the acquisition of the entire capital of Telenor Montenegro from Dutch-registered PPF Group last week.

($ = 0.8832 euro)

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