Magyar Telekom buys optical network
Magyar Telekom on Friday said it exercised its call option on a business holding in Cecoin Kft, which allows it to acquire an optical fiber network covering 110,000 access points for HUF 6.95 billion, according to a report by state news wire MTI.
Magyar Telekom said it signed an agreement in 2014 on the construction of an optical fiber network and in 2015 to lease it for 12 years from Cecoin Kft. The company currently serves 38,000 customers through this network. With the transaction, Telekom can boost its efficiency by reducing its lease fee payments.
The closing of the transaction is subject to notification to and acknowledgment by the relevant authority, Magyar Telekom said.
Watchdog Fines OTP Bank for Regulatory Shortfalls
Gov't Launches HUF 150 bln Job Placement Scheme for Over-30s
Biggeorge Adds 2 New Directors to Top Management
7th Edition of BSC Charity Beach Volleyball Tournaments Comi...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
