Nordtelekom poised to acquire Beltáv
Hungarian-owned ISP Nordtelekom will raise at least HUF 200 million in fresh capital in a bid to buy out the clientele and infrastructure of telco Beltáv, the company said in a statement after an extraordinary general meeting.
Beltáv owns 55% of Nordtelekom shares. Nordtelekom, which is listed on the Budapest Stock Exchange, said shareholders approved a capital raise of a maximum HUF 250 million through a private placement at a general meeting in January. Nordtelekom had after-tax profit of HUF 5 million on revenue of HUF 264 million in 2010. It had net assets of HUF 243 million at the end of 2010.
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.