Consequently, Magyar Telekom will become the legal successor of T-Mobile Hungary as of March 1, 2006, from which date T-Mobile will continue its operations as an independent brand and independent line of business within the Magyar Telekom Group.
The change will not affect customers of T-Mobile, the announcement noted.
Also as of March 1, Magyar Telekom’s company name will change to Magyar Telekom Telecommunications Public Limited Company (Magyar Telekom Nyrt).
According to registration by the Court, Magyar Telekom’s equity will be reduced by the face value of 43,385 shares to Ft 104,276,831,500, because two former shareholders did not wish to remain investor in the successor company.
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