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Magyar Telekom bids for Invitel

Magyar Telekom Nyrt has made an offer for fixed-line phone operator Invitel Rt, Bloomberg reported citing Dow Jones Newswires.

Deutsche Telekom AG's Hungarian unit is among the bidders in an auction for Invitel, the country's second largest fixed-line phone company, the news service reported. The company is valued at about €500 million, Dow Jones said, citing analyst estimates. JPMorgan Chase & Co. is managing the auction.