State Parting With 25% Stake in Yettel Hungary

Telco

Image by Pixabay

State-owned Corvinus International Investment has signed agreements on the sale of its 25% stakes in Yettel Hungary and Yettel Real Estate Hungary and its 20% stake in Cetin Hungary to a member of Czech investment company PPF Group, the Ministry of Economic Development said in a release on its website.

Proceeds from the sale will be used to finance the purchase of Budapest Airport, the ministry said.

The government will continue to play a role in the telecommunications sector through its cooperation agreements with Magyar Telekom and Vodafone as well as Corvinus's 29.5% stake in Vodafone Hungary, the ministry said.

The ministry did not disclose the sale price.

ADVERTISEMENT

Insurers' Premiums Revenue Climbs 5% in 2023 Figures

Insurers' Premiums Revenue Climbs 5% in 2023

Fidesz-KDNP Nominates Constitutional Court Head for Presiden... Government

Fidesz-KDNP Nominates Constitutional Court Head for Presiden...

Debrecen Developing Eastern Portion to Become Residential Construction

Debrecen Developing Eastern Portion to Become Residential

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

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.