TAMPA, Fla. — 4iG, a Hungarian provider of terrestrial communications, plans to buy a majority stake in Israeli satellite operator Spacecom in stages following resistance from Israel’s government.
4iG said Sept. 29 that Israel’s Ministry of Communications has approved its plan to buy an initial 20% of the operator, which the Hungarian telco sees as a springboard for its global space ambitions.
Under 4iG’s agreement with Spacecom, it can increase its ownership by another 31% over the next three years if it can get approvals from the operator’s shareholders and the Israeli government.
4iG had originally announced plans in June 2021 to acquire 51% of Spacecom for $65 million.
However, the Israeli government had concerns about Spacecom’s satellites coming under foreign control, the Jerusalem Post reported in January, and 4iG’s ties to Hungarian Prime Minister…
