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Actel starts retail, wholesale telecom sales

Actel Kft, majority owned by Cyprus's leading telco CYTA, has started retail and wholesale sales of voice, internet and digital television services, managing director Pál Horváth announced on Monday.

CYTA owns 85% of Actel, and the rest is held by Hungary's Anotel and Contel as well as UK-registered Anodus. Actel has net assets of €3.4 million. The company expects to break even within 12 months and to recoup its investment in Hungary in three or four years, Horváth said. He added that CYTA was prepared to invest as much as €2 million at its unit in Hungary, depending on market conditions. Actel will employ at most 40 people.

Actel will use existing networks leased from companies already established in Hungary. Its services are targeted mainly at retail clients and small and medium-sized companies.