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Magyar Telekom closes sale of Bulgarian unit

Magyar Telekom said it closed the sale of its Bulgarian unit Orbitel to Spectrum Net AD on January 28, 2010.

Magyar Telekom acquired the unit in 2006 and established a nationwide backbone network that started operating in the spring of 2008. After reassessing the strategic importance of the company “due to changes in market outlook”, Magyar Telekom signed the contract to sell in the unit in November 2009. (MTI – Econews)