Press Releases

Budapest, December 13, 2006 16:30

Magyar Telekom has signed agreements to acquire MobilPress and MFactory, two service providers in the mobile multimedia and content market for HUF 1 bn. The transaction will enable the Magyar Telekom Group to enhance its presence in the mobile content business and develop a multi-channel multimedia service centre to capture opportunities in this growing segment.

Magyar Telekom Plc has agreed to acquire a 100% stake in MobilPress and a 75.05% stake in MFactory for a combined purchase price of HUF 1 bn. In addition, the company also has an option to increase its stake in MFactory to 100% from 2009.

MobilPress is one of the major Hungarian mobile content providers and manages, among others, the t-zones portal.   MFactory is one of the leading Hungarian mobile content producers and aggregators. The combined revenue of the companies in 2006 is anticipated to be around HUF 1.8 bn with an EBITDA of HUF 120 m.

The MobilPress transaction is subject to the approval of the Hungarian Competition Authority.