Corvinus has signed a sale and purchase agreement that will give 4iG Tavkozlesi 29.5pc stakes in One Magyarorszag and its towers business V-Halozat, making it the sole owner of the telco, parent company 4iG said in an announcement posted on the website of the Budapest Stock Exchange.

At the same time, Corvinus will raise capital in 4iG Tavkozlesi, boosting its stake in the company to 37.90pc from 23.22pc. 4iG's stake in 4iG Tavkozlesi will fall to 62.10pc from 76.78pc.

In a separate statement, Corvinus said its stakes in One Magyarorszag and V-Halozat were sold at a premium of close to 15pc over their value on January 31, 2023, when they were acquired. The transactions expedite the transformation of 4iG's Hungarian telecommunications portfolio, it added.

Source:
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