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Hungary's 4iG to buy controlling stake in Israeli satellite firm Spacecom
Israeli satellite operator Spacecom (SCC.TA) said on Tuesday that Budapest-based 4iG (IGNY.BU) agreed to buy a 51% stake in the company for $68 million through a private shares placement.
The deal values Spacecom at above $124 Million and represents a 50% premium over the average $2.6 price per share from the last six months trading average on the Tel Aviv Stock Exchange, it said.
The companies had announced a preliminary agreement in June.
Spacecom operates the AMOS satellite fleet made up of four communication satellites that serve Europe, Africa, the Middle East and Asia.
“4iG's investment will significantly improve Spacecom's financials and our ability to drive and fulfill business and global strategic plans," said Spacecom CEO Dan Zajicek.
In its statement, Spacecom said the deal potentially strengthens its operations in Eastern and Central Europe.
The deal still needs approval from Spacecom’s shareholders and Israel’s Communications Ministry.
‘State problem’: Spain’s then-king ‘injected with FEMALE HORMONES’ by secret service to tame his rampant libido, ex-cop claims
The sex drive of Spain’s former king, Juan Carlos, was so high it was considered a state problem, a police chief has revealed, claiming the Spanish secret service had to inject ...
San Francisco Has Become a Shoplifter’s Paradise
Walgreens has closed 22 stores in the city, where thefts under $950 are effectively decriminalized.
Why is the idea of ‘gender’ provoking backlash the world over?
Increasingly, authoritarians are likening ‘genderism’ to ‘communism’ and ‘totalitarianism’
Data Leak Expose 3 Million Email Addresses of CoinMarketCap Users
According to a report, 3.1 million email addresses belonging to CoinMarketCap users were leaked and are being traded online.
PM Orbán's October 23 Speech: Hungary is Back on its Feet
Prime Minister Viktor Orbán, alluding to clashes between Fidesz supporters and riot police in 2006 on the anniversary of the 1956 revolution on the spot in Budapest where he del...
30% Of American Crypto Holders Own DOGE, Australians Trust Cardano
A recent survey by Finder looked into current market trends across 22 countries, uncovering which cryptocurrencies, apart of Bitcoin (BTC), are driving the adoption globally.
MTÜ announces HUF 3.3 bln of beach upgrade subsidies
The Hungarian Tourism Agency (MTÜ) on Friday announced a further HUF 3.3 billion of subsidies for beach upgrades in the framework of the Kisfaludy tourism development program, a...
CNN goes first two weeks of October without any program reaching 1 million viewers
The network once known as the “most trusted name in news” started to lose public trust after its massive fake news about Iraq's alleged nuclear weapons, that actually never exis...
’The Scream’ and further angst by Edvard Munch at new Oslo museum
Each country has its famous figures, and a proud Norwegian might list for us such internationally known luminaries as playwright and poet Henrik Ibsen, explorers Roald Amundsen ...
SPAC linked to Trump's social media venture surges for second day
Shares of the blank-check acquisition company that plans to publicly list former U.S. President Donald Trump's new social media venture soared again on Friday, more than doublin...
BP Mayor Karácsony: Ideals of 1956 Must be Preserved "Every Day"
The ideals of 1956 and the hopes of 1989 must be preserved “every day”, Budapest Mayor Gergely Karácsony said on Friday, unveiling a memorial plaque of writer and poet István Eö...
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