Investor Releases
Magyar Telekom Group acquires cable network in South Hungary
Budapest, July 28, 2008
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 its 100% owned subsidiary, T-Kábel Magyarország Kft. has signed an agreement to buy the 100% equity stake of Dél-Vonal Kft.
Dél-Vonal Kft. owns cable networks in other LTO areas in Békés and Csongrád counties; there are around 3,800 cable TV and 500 cable broadband subscribers on its network. The purchase price of the equity stake is less than half a billion forints and the transaction is expected to close in August 2008.
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