Budapest, October 20, 2016 10:30

Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB, hereinafter the “Company”), the leading Hungarian telecommunications service provider, hereby announces that T-Systems Magyarország Zrt. has signed an agreement with WING Group to buy 100% of ServerInfo-Ingatlan Kft. As a result of the transaction Magyar Telekom Group gains ownership of the property where its highly secure data center with state of the art technical infrastructure is located.

 

T-Systems Magyarország Zrt. signed an agreement to buy 100% of ServerInfo-Ingatlan Kft. on October 19, 2016, the value of which transaction is EUR 14.4 million (approximately HUF 4.4 billion at the October 19, 2016 HUF/EUR exchange rate of 306.45).

ServerInfo-Ingatlan Kft. manages the rentals and the maintenance of the property where the data center of T-Systems Magyarország Zrt. is located. This is the largest data center in Central Europe with state of the art technical infrastructure, network and security systems.

As a result of the transaction the associated rental costs will be eliminated on Magyar Telekom Group level.

The closing of the transaction is expected by the end of 2016, and is subject to Competition Authority approval.

 

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