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PanTel to enter retail market

Business communication firm PanTel Kft will enter the retail telecommunication market this month, the company announced yesterday.

PanTel will take over 55,000 clients from Hungarotel Rt, with which they are in the same HTCC Group. HTCC aims to create bigger competition on the market and increase its market share from 10% to 20%. PanTel and Hungarotel both want to introduce Internet-based TV (IPTV) services in Hungary too. HTCC reported a net revenue of $110 million last year.