Hungary might finance Vodafone buy with a mortgage

A person checks his cell phone subsequent to a Vodafone emblem on the Cell World Congress in Barcelona, Spain, February 28, 2018. REUTERS/Sergio Perez

BUDAPEST, Aug 23 (Reuters) – Hungary might finance the acquisition of a 49% stake within the Hungarian enterprise of Britain’s Vodafone from a mortgage, Prime Minister Viktor Orban’s chief of workers advised on Tuesday.

When requested if the acquisition of the Vodafone stake value about 350 billion forints ($845.12 million) can be financed from a mortgage, Orban’s chief of workers Gergely Gulyas advised reporters:

“When the deal is signed, we are going to reveal the small print … however your assumption just isn’t removed from the truth.”

Vodafone introduced on Monday that it deliberate to promote its Hungarian enterprise for 715 billion forints in money to native IT firm 4iG and the Hungarian state.

The deal is anticipated to create Hungary’s second largest telecoms operator. 4iG will maintain a majority 51% stake with the state the rest, consolidating the maintain of Prime Minister Viktor Orban’s authorities over the telecoms sector. learn extra

($1 = 414.1400 forints)

Reporting by Anita Komuves; Enhancing by Kirsten Donovan

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