China-CEE Fund completes the acquisition of Invitel Group
The China-CEE Investment Cooperation Fund (“the Fund”), advised by CEE Equity Partners Ltd. (“CEE Equity”), acquired Invitel Group, one of the leading players on the Hungarian telecommunications market, a multi-play provider with an integrated service portfolio including fixed voice, broadband internet, cable TV and IT services.
Invitel Group serves more than 6,000 corporate and wholesale customers, and has over 1 million homes passed. Under the new ownership and capital structure, the group will maintain its focus on upgrading residential fiber, while strengthening its B2B offering by acquiring and building additional capabilities, and investing in a strong network in preparation for the upcoming fixed-mobile convergence.
About Invitel Group
On the residential market, Invitel is an established regional triple-play provider across fiber, copper and cable networks, with primary focus in the on-net footprint. It is also the No. 2. corporate communications service provider with national presence thanks to its 17,800 km network (9,000 km of which being its own brand new fibre optic backbone), and it is one of only two national wholesale service providers in Hungary. In addition to fixed voice, data, and internet, its corporate offering includes unified communications solutions, data centres and IT security services.