Antenna Hungaria deal set to close

The Hungarian government is set to complete its buyback of Antenna Hungaria (AH) from French towerco TDF tomorrow (30 May).
Hungary’s National Infocommunications Service (NISZ) agreed on 26 March to acquire 100% of the shares of AH, which provides…

The Hungarian government is set to complete its buyback of Antenna Hungaria (AH) from French towerco TDF tomorrow (30 May).

Hungary’s National Infocommunications Service (NISZ) agreed on 26 March to acquire 100% of the shares of AH, which provides broadcast and telecoms services, in a deal that valued the company at Ft55.9bn (US$247m).

The Ministry of National Development has 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 deal 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. The company also provides telecoms services to corporate customers and hosting and maintenance services to telecoms operators. Since 1998, it has operated a nationwide digital microwave backbone network.

TDF CEO Olivier Huart noted that the company had invested about Ft20bn 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.

Neither the ministry nor NISZ were immediately available for further comment.