Magyar Telekom Group acquires 9 smaller cable networksThursday, December 12th, 2013
BUDAPEST — Magyar Telekom has successfully acquired a total of 9 cable networks in Hungary during 2013. With a combined household coverage of 33,000, these smallernetworks have the capability of providing TV, broadband internet and voice services as well. As such, these transactions will further strengthen Magyar Telekom’s high speed internet coverage and market positions, in line with the company’s strategy. Total consideration for these acquisitions amounted to ca. HUF 850 million.
Magyar Telekom Group has taken over the services for customers of the acquired networks, for whom the change in ownership does not bring any change in their subscribed services and they are not required anything to do. During the integration process of the acquired networks Telekom will carry out the necessary network upgrades and service development. Following that, Magyar Telekom as the country’s sole integrated provider of fixed line and mobile services will offer its comprehensive service portfolio also to its new customers.
János Szabó, Magyar Telekom’s Chief Financial Officer said regarding the acquisitions, „The nine successfully completed deals are an indication that Magyar Telekom’s acquisition activities have accelerated significantly this year. Thanks to the cable networks acquired, Telekom’s high speed internet services reach 33 thousand more households all over the country. As a result our acquisition activities contribute significantly to additions in Magyar Telekom’s customer base using fixed line services.”
As Hungary’s largest telecommunication provider Magyar Telekom, thanks to the acquisitions, further increases its high speed internet (HSI) coverage, strengthens its market positions, improves its efficiency and competitiveness, offering advanced and innovative services to its new customers too. Telekom sees further acquisition options in Hungary’s cable and access market, which is in the phase of consolidation, and it intends to continue its successful acquisition activities contributing to the achievement of the company’s strategic targets and creating significant value for customers and shareholders.
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