Press News

Non-core asset sale at MakTel

Budapest, February 12, 2008

Magyar Telekom's Macedonian subsidiary, Makedonski Telekomunikacii AD (MakTel) has signed an agreement to sell its fully owned company Montmak DOO for a consideration of EUR 5 million.

Montmak DOO owns and operates a beach hotel facility on Montenegro’s Adriatic coast and had a book value of EUR 1 million as of December 31, 2007. The transaction is expected to close in the first quarter 2008.