4iG and Corvinus completed the acquisition of the Hungarian unit of Vodafone Group for HUF660bn.

4iG, a technology company that provides information technology solutions, and Corvinus, a Hungarian state holding, completed the acquisition of the Hungarian unit of Vodafone Group, a British multinational telecommunications company, for HUF660bn ($1.6bn). "The Hungarian Government has a clear strategy to build a Hungarian owned national champion in the ICT sector. This combination with 4iG will allow Vodafone Hungary, which has a proud history of success and innovation in the country, to play a major role in the future growth and development of the sector as a much stronger scaled and fully converged operator. The combined entity will increase competition and have greater access to investment to further the digitalisation of Hungary," Nick Read, Vodafone CEO.