State-Owned NISZ Closes Acquisition Of Broadcaster Antenna Hungaria

(MTI) – The wholly state-owned IT company National Infocommunications Services ZRt (NISZ) closed a transaction to purchase 100 percent of terrestrial broadcaster Antenna Hungaria from the French-German TDF Group on May 30, the National Development Ministry announced on Friday.

When announcing the deal late March, the ministry said that the transaction, which includes the purchase of company shares and repayment of a TDF Group loan to Antenna Hungaria, values Antenna Hungaria at 55.9 billion forints (EUR 184m).

Antenna Hungaria had EBITDA of 5.59 billion forints in its business year ending March 31, adjusted for the phased-out analogue TV broadcasting, the ministry said in March.

The last published annual report for the business year ending March 31, 2013 showed net assets of 22.45 billion forints, total assets of 53.91 billion forints and net losses of 29 million forints.

Antenna Hungaria holds 55 percent of European satellite telecom service provider Hungaro DigiTel (HDT) which is 45 percent held by Portugal Telecom Group. HDT’s biggest client is the state of Hungary, the ministry noted.

The TDF Group called a tender for the purchase of Antenna Hungaria in 2013. It bought 100 percent of Antenna Hungaria from Swisscom in 2007 for 80.7 billion forints.

The buyer NISZ ZRt and its three units: Kopint-Datorg Idomsoft and Pro-M are providing infocommunication and telecom services mainly for the state administration and institutions through state.

NISZ ZRt had after-tax profit of 87 million forints on sales revenue of 21.7 billion forints last year. Net assets stood at 23.9 billion forints at the end of 2013, the website containing electronically published reports show.

The buy-back of Antenna Hungaria is in line with the government’s strategy to return utility assets of strategic importance into state ownership.

Photo: antennaszerelo.shp.hu

Source: http://mtva.hu/hu/hungary-matters