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Trumbull takes stake in TvNetWork

Cyprus-based Trumbull Capital Advisors took a 30% stake in Budapest-listed cable company TvNetWork Nyrt, the latter said in statement on the website of the Budapest Stock Exchange.

Trumbull Capital Advisors bought the stake off Businesslink at an undisclosed price, reducing the latter's interest in TvNetWork to 2.87%.

TvNetWork in April agreed to sell electronic communications networks in seven Hungarian regions to PR-Telecom for net HUF 800 million.

Netherlands-based Carose and Romania's Digi are TvNetWork's biggest shareholders. (Napi Gazdaság)