Magyar Telekom wins bid for frequencies

Magyar Telekom, the Hungarian subsidiary of Germany's Deutsche Telekom, will pay a combined price of HUF 58.65 bln to license new frequencies that it won in a tender, the company announced today.

Magyar Telekom said it will pay HUF 33.2 bln for blocks in the 800 MHz, 900 MHz and 2,600 MHZ bands. Additionally, it will pay a combined HUF 25.4 bln for blocks in the 1,800 MHz band in a tender that closed on September 29, according to the company.

While Magyar Telekom took away the largest package, other successful bidders include local providers Telenor, Vodafone and Digi. The total bids exceed the National Media and Communications Authority’s projection by HUF 26.6 bln for a total of HUF 130.6 bln.

As a result of the successful tender, Magyar Telekom’s share prices rose 1% on the Budapest Stock Exchange.

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