APV selects Swisscom to buy Antenna Hungaria stake
Monday, July 25, 2005, 12:57
Hungary's government chose Swisscom AG to buy a majority stake in broadcaster Antenna Hungaria Rt over competing companies Macquarie Communications Infrastructure Group and Austria's ORF, the government's asset sales agency known as APV announced. Swisscom offered to buy 75 % of Hungary's state broadcaster for Ft 46.76 billion, Tamás Mészáros, chairman of APV announced. ORF had bid Ft 42.1 billion for the stake and Macquarie offered Ft 36.7 billion. The Budapest Stock Exchange, which suspended trading in Antenna stock pending the announcement, did not say when trading would resume. Hungary is selling Antenna to save the expense of upgrading its equipment as the country switches to digital broadcasting.