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Magyar Telekom EGM grants approval to merger with subsidiary

The shareholders of Hungary's leading telecom service provider Magyar Telekom Rt granted approval for the company's merger with its mobile telephony unit T-Mobile Magyarország Rt, Magyar Telekom announced. The merger will take effect when it is registered by a court. Magyar Telekom will be the legal successor of T-Mobile Magyarország. The merger was proposed by the board of Magyar Telekom on Oct. 6, after which the IT and Telecommunications Ministry, along with other authorities and ministries, said they saw no reason to prevent the merger. In an earlier announcement, Magyar Telekom said T-Mobile would continue to operate as an independent brand and division within the company.