Wolf Theiss has advised Digi Tavkozlesi es Szolgaltato Kft. on acquiring Direct One from Canal+ Luxembourg S.ar.l. CMS advised the seller.
The transaction is expected to close in Q4 of 2024 pending approval from the Hungarian Competition Authority.
Digi Tavkozlesi es Szolgaltato Kft. is a telecommunications subsidiary of 4iG Group – a telecommunications and IT group in Hungary and the Western Balkans.
Direct One is the Hungarian satellite customer base of Canal+, which, according to Wolf Theiss, is Europe's largest satellite and IP television provider.
"Through the closing of the transaction, 4iG Group will add 155,000 satellite subscribers to its customer base and will solidify its leading role in the Hungarian satellite broadcasting market," according to Wolf Theiss.
Recently, Wolf Theiss advised 4iG Group and its telecommunications portfolio manager Antenna Hungaria Plc. on its acquisition of a 100% stake in PR-Telecom Tavkozlesi Zrt (as reported by CEE Legal Matters on August 9, 2024). In 2022, Wolf Theiss advised 4iG on the acquisition of an 80.27% stake in AlbTelecom from Turkey's Calik Holding's subsidiary (as reported by CEE Legal Matters on May 17, 2022).
The Wolf Theiss team was led by Counsel Norbert Balint and included Senior Associate Peter Ihasz.
The CMS team was led by Partner Eszter Torok and included Partner Dora Petranyi, Senior Counsel Peter Homoki, and Associates Szabina Marsi and Orsolya Pass.
