In a recent acquisition deal, Wolf Theiss played a crucial role in advising Antenna Hungária Plc., the telecommunications portfolio manager of the 4iG Group, on the purchase of PR-Telecom, a Hungarian-owned telecommunications company with a rich 25-year history. The acquisition involved legal and regulatory aspects, structuring the transaction, and drafting and negotiating necessary documents. With 160 employees, PR-Telecom offers TV, internet, and telephone services through its fixed fiber and mixed fiber-coax infrastructure, serving around 250,000 households and 55,000 customers. Even after the transaction, the former owners of PR-Telecom will remain involved in managing the company, ensuring a smooth transition.
Additionally, Wolf Theiss assisted Digi Távközlési és Szolgáltató Kft., a subsidiary of the 4iG Group, in acquiring the Hungarian satellite customer base of Canal+, known as Direct One. This involved conducting due diligence on the target and negotiating transaction documents with Canal+ Luxembourg S.àr.l., Europe’s largest satellite and IP television provider. By finalizing this deal, the 4iG Group will expand its customer base by 155,000 satellite subscribers, consolidating its position as a key player in the Hungarian satellite broadcasting market.
Both transactions are set to be completed in the fourth quarter of 2024, pending approval from the Hungarian Competition Authority (GVH). The involvement of Wolf Theiss in these acquisitions highlights their expertise in navigating complex legal and regulatory landscapes, ensuring a successful outcome for their clients.
Leading the transaction teams at Wolf Theiss were counsel Norbert Bálint and senior associate Péter Ihász. Norbert Bálint expressed pride in supporting the 4iG Group in these significant acquisitions, emphasizing the strategic importance of these deals in strengthening the group’s presence in the telecommunications and satellite television markets.
Overall, the collaboration between Wolf Theiss and the 4iG Group in these acquisitions showcases the importance of legal expertise in navigating complex transactions and regulatory frameworks. By leveraging their knowledge and experience, Wolf Theiss has played a key role in facilitating these deals, ultimately contributing to the growth and success of their clients in the telecommunications industry.