Through its subsidiaries, HDT and CarpathiaSat, 4iG has entered into a preliminary agreement to acquire a controlling 51% stake in Space-Communication (Spacecom), a Tel Aviv-listed satellite operator, by way of a US$65m private placement. Spacecom owns and operates four geosynchronous satellites, with a regional footprint, including Hungary, via its AMOS-3 satellite. The acquisition of Spacecom is a logical step for 4iG as it establishes a vertically integrated IT services and telecoms business in Hungary (and regionally). Its JV, CarpathiaSat, has already secured the rights to operate geostationary satellites over Hungary for a period of 20 years from 2024. 4iG has not confirmed how it will fund its investment, but we note that it is expected to complete at a similar time to 4iG's pending acquisition of DIGI Group. On a pro forma basis, these businesses look set to generate run-rate EBITDA of HUF88bn (c US$300m), unlocking substantial debt funding capacity for the enlarged group. Both DIGI Group and Spacecom are transformational deals for 4iG; we will update our estimates once the deals complete.Den vollständigen Artikel lesen ...