Antenna Hungária deal set to close

The Hungarian government is set to complete its buyback of Antenna Hungária (AH) from French towerco TDF tomorrow.
Hungary’s National Infocommunications Service (NISZ) is buying all the shares of AH, which provides broadcast and telecoms services,…

The Hungarian government is set to complete its buyback of Antenna Hungária (AH) from French towerco TDF tomorrow.

Hungary’s National Infocommunications Service (NISZ) is buying all the shares of AH, which provides broadcast and telecoms services, in a deal that values it at Ft55.9bn (US$247m).

The Ministry of National Development has recently been quoted in Hungarian media as saying the deal is on track to closing on schedule.

NZIS CEO Attila Zoltan Szabo said in March that the move aligns with the government’s strategy “to place public utilities under public ownership”. He noted that AH is a strategically important national terrestrial and satellite TV and radio broadcaster.

According to its website, AH currently offers digital satellite broadcasting services through the Amos-3 satellite. It also used to transmit programmes through several Eutelsat birds.

Since 1996, when it started operating, AH claims to have served more than 40 satellite TV broadcasters.

The company also provides telecoms services to corporate customers and hosting and maintenance services to telcos.

TDF CEO Olivier Huart said the company had invested about Ft20bn (US$90m) in AH over the years, helping to position it as a leading player in the Hungarian digital media market.

Swiss incumbent Swisscom bought AH in 2005 for €238m following a privatisation process but decided to sell it off a year after taking full control. TDF acquired the Hungarian company from Swisscom for €328m in 2007.

Meanwhile, TDF is still in the process of trying to sell its French assets. But merchant bank Dering Capital, the only known bidder for the operations, is said to be struggling to raise the equity part of the acquisition financing. Reports last year indicated that Dering had submitted a €3.8bn offer.

Besides France and Hungary, TDF is also present in Germany, Poland, Spain, Estonia and Monaco.