Investor News

Budapest, December 12, 2019 10:00

Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB, hereinafter the “Company”), the leading Hungarian telecommunications service provider, announces the signing of an agreement on the sale of the Company’s hotel at Balatonkenese.

Under the scope of the announced efficiency improvement and portfolio optimization measures, the Company has put on sale several of its real estates and hotels. On December 11, 2019 the Company has signed an agreement on the sale of its largest hotel located at Balatonkenese.  The transaction will result in expected cash inflows of ca. HUF 3.3 billion and profit of ca. HUF 1.3 billion. Closing of the transaction is expected in the coming weeks.

This investor news may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Reports for the year ended December 31, 2018 available on our website at https://www.telekom.hu.