Vodafone sells Hungary business
August 22, 2022
Vodafone Group Plc has agreed to sell its Hungarian unit to 4iG Public and Corvinus, a Hungarian state holding company, in a deal worth €1.8 billion.
The companies aim to close the acquisition by the end of 2022 subject to regulatory approval. VOIS – Vodafone’s IT and business support venture – is not included in the deal and will continue to provide services to Vodafone’s other operating companies.
Nick Read, Chief Executive of Vodafone, commented: “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.”