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Hungarian Telephone completes acquisition of Tele2’s Hungarian business

Hungarian Telephone says it ahs purchased the Hungarian business of Tele2, a Swedish-based alternative telecom operator.

The buy is expected to help Hungarian Telephone expand its customer base as well as widen offerings, particularly DSL broadband Internet service. (Frequency Division Multiplexing is used in wireline systems such as CATV-Community Antenna TeleVision and DSL-Digital Subscriber Line systems.)

Hungarian Telephone bout the division for $5.7 million. Tele2 Hungary is a reseller of fixed line telephone services using the network facilities of other operators. It has about 460,000 active customers. Tele2 said it will continue to operate independently using the same (Tele2) brand name until it is integrated into Hungarian Telephone under a brand name of “Invitel” „Tele2 will further develop our position in the fixed line telecommunications market in Hungary.

The acquisition is in line with our strategy to pursue „bolt on” acquisitions in the Hungarian and Romanian telecommunications markets which add value for Hungarian Telephone’s stockholders,” Martin Lea, Hungarian Telephone and Cable Corp.’s President and CEO. With more than 1 million customers, Hungarian Telephone is the second-largest fixed line telecommunications and broadband Internet Services Provider in Hungary. (internetcommunications.tmcnet)