TIRANA, Dec. 25 – Hungary’s 4iG PLC has entered into a final agreement to acquire Albanian One Telecommunications sh.a., the Hungarian company said in a press release.
The deal had been rumored in the Albanian business press for a while, and it now appears to have been reached for an undisclosed sum.
In early December, 4iG announced that it had signed a final agreement to acquire the 80.27 percent majority stake in Albania’s largest telecommunications company, ALBtelecom, which provides fixed and mobile telecoms services.
If it gets regulators’ clearance, One’s purchase means 4iG Group will become Albania’s most prominent player in the telecoms sector, and Albania’s mobile communication’s market will be a duopoly, with only one rival company remaining, Vodafone.
One is the second-largest and fastest-growing mobile operator in Albania with 1.36 million subscribers. Last year, One achieved revenues of EUR 68.1 million.
Previously known as AMC and Telecom Albania, One has gone through several purchases and rebrandings over the years and has been owned by companies in Greece, Germany, Bulgaria and now Hungary.
The acquisition marks another step in 4iG’s expansion strategy in the Western Balkans, according to the group. 4iG could complete the transaction following regulatory procedures in Albania.
After repositioning its services and brand, ONE, employing 420 employees, has significantly grown its market share in the recent period, reaching 41 per cent of the total Albanian mobile subscribers in the third quarter of 2021.
“Thanks to its telecoms network, which was renewed last year, ONE Telecommunications is an operator with strong growth potential and will fit well into our Western Balkan telecoms portfolio once the acquisition is completed. We are proud that with the acquisition of ONE Telecommunications and ALBtelecom, 4iG Group will become one of the largest investors in Albania and the largest player in the Albanian telco market. We have come to the country as a professional investor with a long-term vision to be present in the country, providing high quality services to residential and business customers,” said Gellért Jászai, Chairman and CEO of 4iG, following the announcement.
Elvin Guri, One’s current majority shareholder said: “During the past three years, ONE Telecommunications was transformed into the best mobile service provider in Albania. Our achievements would not have been possible without the work and dedication of all the employees of the company. This sale is a further validation of their professionalism and of our efforts to bring change to the Albanian mobile market. We are confident that, in the capable hands of 4iG, One Telecommunications and its employees shall continue to flourish.”
With its focus on the mobile market, the portfolio of ONE and ALBtelecom, a fixed and mobile services provider, could create significant synergies, the Hungarian company said in the press release.
The parties did not disclose the value of the transaction. The transaction may be closed following regulatory procedures in Albania.
