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4iG to buy Magyar Telekom's T-Systems in Hungary

Mna News - Published on Thu, 11 Jul 2019

Image Source: ET Telecom
Hungarian information Technology Company 4iG has signed a preliminary deal to buy its bigger rival T-Systems, which is owned by Magyar Telekom. 4iG’s CEO and largest shareholder Gellert Jaszai said that it represents a milestone in the expansion drive flagged by the company last month. Mr Jaszai said that “Our growth can gain further impetus from a potential strategic partnership with Magyar Telekom after the T-Systems deal closes.”

The price and other financial details were not disclosed and the deal, which is expected to close this year, does not include the segment of T-Systems focused on sales to small and medium-sized businesses.

Magyar Telekom is Deutsche Telekom’s majority-owned Hungarian business.

Shares in 4iG, which provides IT services including hardware and systems management, jumped more than 7.5% after the announcement.

Source :

Posted By : TelecomGuru on Thu, 11 Jul 2019
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