China Exim Bank Unit Buys Hungarian Telecom Firm Invitel For $214M

An investment fund established by the Export-Import Bank of China and other institutional investors based in central and eastern Europe, has agreed to acquire Hungarian telecommunications company Invitel Group at an enterprise value of €202 million (US$214 million).

Invitel is the second-largest incumbent fixed-line telecommunications and broadband Internet services provider serving more than one million homes in Hungary, including both residential and corporate customers.

CEE Equity Partners, the investment advisor to the China CEE Investment Cooperation Fund, is to buy the company from Mid Europa Partners, a buyout investor in central and south eastern Europe with over €4.3 billion (US$4.6 billion) in funds raised since inception.

"Under Mid Europa's leadership, we have strengthened Invitel's position in the Hungarian market and...

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