The Hungarian state will participate in the domestic ownership of Vodafone Hungary, the Minister of Economic Development told MTI on Monday.
According to the announcement, the post-2010 governments have always had the distinguished goal of strongly increasing the proportion of Hungarian ownership in sectors of national strategic importance and, if possible, raising it to the majority level. This government goal has already been achieved in the banking, energy, and media sectors, and now there is an opportunity for a Hungarian company with a state-owned stake to become a serious player in the telecommunications market as well.
According to the information, in order to achieve this, the Minister of Economic Development, Márton Nagy, who exercises ownership rights, asked Corvinus Zrt. to buy the minority stake of Vodafone Magyarország Távközlési Zrt., i.e. 49 percent. As a first step, a preliminary, non-binding agreement was concluded between Corvinus Zrt., Vodafone Europe BV, and 4iG Nyrt.
It was also announced that the minister assesses that the transaction can be classified as being of national strategic importance in the public interest, and therefore proposes the government’s decision in this regard.
After the successful completion of the acquisition, all the conditions will be in place for creating a Hungarian, nationally-owned company with a leading role in the market, which can contribute to improving the country’s competitiveness by meeting the digital challenges of the 21st century. provide quality service to its nearly 4 million residential and corporate customers – they wrote.