Vodafone Group has announced the acquision of its Hungarian unit by 4iG Public Limited Company (4iG Plc) and Corvinus Zrt (Corvinus).

With the acquisition, 4iG intends to create a clear #2 operator across mobile and fixed communications with broader Information and Communications Technology (ICT) capabilities, supporting the Hungarian state’s goal of creating a national ICT champion. 

The transaction was valued at EUR1.8 billion (USD1.9 billion). The Parties are targeting completion by the end of 2022.