Investor Releases
Magyar Telekom acquires remaining stake in T-Systems Hungary
Budapest, August 31, 2007
Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service provider, announces that it has completed the transaction to acquire the remaining 49% in T-Systems Hungary, increasing its stake to 100%.
In line with the announcement on 2 January 2007, Magyar Telekom has increased its shareholding in T-Systems Hungary to 100% with effect from 31 August 2007. In parallel, the streamlining of T-Systems Hungary via the separation of additional assets to a company 100% owned by Deutsche Telekom was also completed. The combined impact of all the transactions on Magyar Telekom is cash neutral.
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