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Magyar Telekom profit rises on mobiles

Deutsche Telekom AG's Magyar Telekom Rt, eastern Europe's second-largest phone operator, reported a 45% gain in quarterly profit because of higher revenue from mobile phones and at its business in Montenegro, Bloomberg reported. Shares of Magyar Telekom rose by the most in three months as earnings beat analysts' estimates. The shares were 3.2% higher yesterday, at Ft 947 at 12:07 in Budapest. They have added 9.5% this year. "It's very positive that sales climbed and that they managed to boost mobile sales in such heavy competition," said Ákos Herczenik, an analyst at Takarékbank in Budapest.