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Antenna Hungaria completes acquisition of MVM NET

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Photo by Antenna Hungária

State-owned terrestrial digital broadcaster Antenna Hungaria has completed its acquisition of telecommunication service provider MVM NET from state-owned energy company MVM Energetika, the parties said in a joint statement yesterday, according to Forbes.hu.

MVM Net, which provides critical availability telecommunications services primarily within the MVM Group as well as to state and wholesale customers, will change its name to AH NET Távközlési.

The acquisition in the form of an in-kind contribution, part of a consolidation of the state-owned ICT portfolio, will allow Antenna Hungaria to meet its customers' needs "at a more advanced level and with higher quality," the companies said.

It will also be able to "respond more effectively" to changes in the telecommunications market with its broader portfolio of services, they added.

Antenna Hungaria is the sole provider of terrestrial digital television broadcasting and analog radio broadcasting in Hungary; it also holds a 25% stake in Telenor Hungary.

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