1989-1993
Matáv – The Beginning
Matáv Hungarian Telecommunications Company Ltd. was established on December 31, 1991 as the successor of the telecommunications company established when Hungarian Post that was split into three in December 1989. Until the end of 1993 the company remained a fully-owned state company.
Privatization Tender
On July 1, 1993 the Telecommunications Act entered into force; it qualified public telephone, mobile telephone and public pager services as concession services. So Matáv’s privatization tender could be invited both for obtaining national telephone concession right and buying Matáv shares. According to the contracts concluded on December 22, 1993 MagyarCom, a consortium of two telecommunications companies, Deutsche Telekom and Ameritech International acquired 30.1% ownership of the national telephone concession transferred on a mandatory basis to Matáv and the increased equity – for USD 875 million.