Press Releases

MakTel wins tender to buy 9.9% of its shares from the Macedonian Government

Budapest, June 6, 2006 10:00

MakTel had won the tender to buy 9.9% of the company's shares at the auction held by the Macedonian Government.

The Macedonian Government auction to sell its 45% stake in Makedonski Telekommunikacii AD (MakTel) is being held between 5th and 9th of June, 2006. On the first day, MakTel was able to buy 9.9% of its shares for EUR 60.3mn (EUR 6.36 per share). Following the completion of the share purchase transaction, Magyar Telekom's voting rights in MakTel, through its subsidiary Stonebridge, will increase to 56.6%, while the voting rights of the Macedonian state will decrease to 41.3%.

Magyar Telekom currently owns 51% of MakTel through its fully-owned subsidiary Stonebridge Communications AD, while the Government of the Republic of Macedonia and IFC hold 47.12% and 1.88%, respectively.