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MTel wins HUF 12.2 bln EU grant to back broadband development

Telco

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Magyar Telekom (MTel), the Hungarian subsidiary of German telco giant Deutsche Telekom, has won a HUF 12.2 billion European Union grant to support investments in its fixed broadband network, Hungarian news agency MTI reported Friday.

Supplemented with the companyʼs own resources, the funding could bring broadband internet with a minimum speed of 30 Mbps to some 111,000 homes in areas where no ISP is offering that level of service. 

Magyar Telekom had applied for HUF 34.8 bln of the funding.

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