According to Gellért Jászai, the acquisition of Vodafone is not nationalization

Gellért Jászai; 4iG Nyrt; Vodafone;

2022-08-30 08:20:00

In addition, the so-called “national capital” brings in a 30-year lag with this business.

“This is a strategic acquisition, which can be at least as far-reaching and significant in terms of the history, modernization and market positions of Hungarian telecommunications as the sale of Matáv 29 years ago,” stated the president and CEO of 4iG regarding the purchase of Vodafone. to the Index in a given interview

Gellért Jászai told a portal close to the NER since September 2020 that Orbán had appointed Minister of Economic Development Márton Viktor Nagy as the contact person in the matter, and had even consulted with him.

– he said. According to Gellért Jászai, the role of the state is also completely normal and healthy at the international level in terms of public services and strategic industries such as telecommunications. He indicated that with the purchase of Vodafone, the so-called “national capital” will bring in a 30-year lag. He explained this disadvantage with the characteristics of the market. He gave several European examples where the state is present in this sector. For this reason, he considers the mention of state capitalism and similar adjectives to create moods, which without the competence and knowledge of the industry are only about politics. – Of course, I also read the opinions of the so-called experts. They must have already made many successful acquisitions or given advice during their careers, but I always have the feeling that such bigotry is more about gaining a few minutes of fame, he noted.

The businessman, who once became known as the right-hand man of Lőrinc Mészáros, sees

The state needs profitable companies with high income-generating capacity, which have stable returns, do not take the goods produced out of the country, but rather bring them home, and which, in addition to tax revenues, can redistribute the profit generated as part of the budget to the purposes it prefers. It is likely that the purchase will pay for itself in 10-12 years, although for this the company must first be examined, the books must be seen, and after that more precise calculations can be made.

In the interview, Index also attempted to pose a real question, as it began to question whether the fact that 4iG, through Antenna Hungária, has a 25 percent ownership stake in Yettel Hungary in parallel with the purchase of Vodafone, raises the suspicion of a cartel, while the Economic Competition Authority probably cannot examine the Vodafone acquisition, as they want to declare it of national strategic importance. Gellért Jászai dispelled concerns about this by saying that although 4iG is present as a “specifically majority professional” investor in telecommunications in addition to IT, the 25 percent ownership stake in Yettel is only a financial investment, and cannot influence the company’s business issues and strategy.

Source: Népszava by

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