Press Releases

Matáv to further outplace its real estate operations

Budapest, February 1, 2005 14:00

Matáv has sold its real estate operations company Telit Rt. to DeTe Immobilien (100% owned Deutsche Telekom subsidiary) for EUR 2.1 mn. The company will provide real estate services to Matáv Rt. based on a long term service contract effective from February 1, 2005.

This new contract further strengthens the relationship with DT Group not only providing cost reductions for Matáv Rt., but also creating the basis for the outplacement of an additional 50 people on top of the earlier real estate outplacement. A small strategic real estate management unit will remain in Matáv reporting to the CFO. During 2005 Matáv intends to continue outsourcing in other areas.