4iG Nyrt. (BUSE:4IG) entered into a non binding term sheet to acquire a 70% stake in TeleGroup on September 20, 2021. The completion of the transaction is subject to due diligence of the target company, the conclusion of the final contract, and the necessary approvals from the competition authority.

Telegroup has total revenue of EUR 64 million and EBITDA of EUR 5.3 million in 2020. The transaction is expected to close by the end of 2021.