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Matáv reshuffles loans from parent

Hungary?s leading telecom service provider Matáv Rt announced an agreement with its German parent company Deutsche Telekom AG (DT) to take out two loans totaling Ft 40 billion from the latter. Matáv will use the new finance to refinance another loan extended by DT, which is due today. The two Ft 20 billion loans will mature in January 2007 and May 2007. Matáv chose this financing option to optimize the maturity of its mid-term loans.