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Telco tax could affect Magyar Telekom CAPEX, dividend

An extraordinary tax telecommunications companies have to pay in 2010-2012 could affect Magyar Telekom's capital expenditures and dividend policy, CEO Christopher Mattheisen said at a press conference on Thursday, after the telco published its Q3 earnings report.

Mattheisen confirmed in the report the company’s plan to cut CAPEX by 10% in 2010 from 2009 levels.

Magyar Telekom’s cash flow statement showed investments in tangible and intangible assets reached HUF 54.3 billion in Q1-Q3, down 24.1% from the same period a year earlier. (MTI Econews)