Magyar Telekom exits retail energy market
Magyar Telekom has announced its withdrawal from the retail electricity market, effective November 1, 2017, according to state news wire MTI.
Magyar Telekom started selling energy to its retail and corporate clients in 2010, after the market was deregulated. The telcoʼs non-core business boosted results until government-mandated utilities price cuts caused margins to narrow.
Magyar Telekom spun off its corporate energy business into a joint venture with MET Holding AG from the start of last year. The announcement of the withdrawal from the retail electricity market was made on Monday.
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