SWISSCOM Broadcast AG has won the bid for a 75% plus one vote stake in broadcaster Antenna Hungária for Ft46.76 billion ($228.5m).
Announced last Thursday, July 21, by state privatization and holding agency ÁPV Rt, Antenna immediately requested the suspension of trading of its shares on the Budapest Stock Exchange until there was wide publicity of the sale. The company closed trade on Wednesday at Ft4,855. Six companies were shortlisted in the bidding, but only three made binding bids: eventual winner Swisscom; the Australian Macquarie Airports Holdings Ltd, which offered Ft36.71 billion; and Austria's Österreichischer Rundfunk (ORF), which offered Ft42.1 billion. Employing 973 people, Antenna Hungária had, by the end of March this year, consolidated net assets of Ft23.02 billion (€93.1 million). Revenues from television and radio broadcasting increased by 6% in 2004, due to price rises. The company's main focus is national, terrestrial and satellite television and radio broadcasting and distribution. Approximately 47% of its domestic income last year came from broadcasting and program transmissions.
In 2004, Antenna Hungária recorded net profit of Ft11.58bn, up from net losses of Ft1.08bn in 2003. Prior to Thursday's announcement, ÁPV Rt owned a 73.71% share in the company, Firthlion Limited 11.48% and others, 14.81%.
Or the real deal. Swisscom Broadcast bids for Antenna Hungária 15/07/2005 by Leigh Phillips Swisscom Broadcast is participating in the bid for the majority stake in Antenna Hungária, currently held by the Hungarian government's holding company.
Today, the firm submitted a binding offer in connection with the Hungarian company’s ongoing privatisation process.
Antenna Hungária is active in the fields of radio and television broadcasting and telecommunications. Swisscom is not releasing details regarding the size of bid or the content of the offer at the present time.
Swisscom Broadcast is responsible for the broadcast of radio and television signals from approximately 500 proprietary transmitter sites and over 1,800 transmitters across Switzerland.
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