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Magyar Telekom sells its stake in Cardnet Zrt

Magyar Telekom, the leading Hungarian telecommunications service provider today announced that it has sold its 72% stake in Cardnet Zrt for a purchase price of above Ft 300 million plus the proportionate dividend for 2006. Cardnet’s main activity is the sale and maintenance of Point of Sales terminals. In 2005, the company reported revenues of Ft 331 million and an EBITDA of Ft 32 million. The disposal of this stake is in line with Magyar Telekom’s efforts to focus on its core businesses. (