MTel wins HUF 12.2 bln EU grant to back broadband development

Telco

wikimedia commons

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.

ADVERTISEMENT

Cropland Prices in Hungary Reach HUF 1.9 mln/hectare Land

Cropland Prices in Hungary Reach HUF 1.9 mln/hectare

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

BMW Adding Battery plant in Debrecen, Doubling Investment Va... Manufacturing

BMW Adding Battery plant in Debrecen, Doubling Investment Va...

Hungarian Tourism in Croatia Returning to Pre-pandemic Level... Tourism

Hungarian Tourism in Croatia Returning to Pre-pandemic Level...

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.