TVnet Kft plans to spend Ft 100 million on setting up an internet television (IP TV) network in Budapest and 11 other large cities in Hungary by December, the company announced on Sunday.
Allied Telesyn is supplying equipment for the network, which is already in the testing phase. TVnet managing director Tibor Lengyel said he expected 4,000-10,000 subscribers to sign up for the service by December. Subscribers will be offered internet and IP telephony services as well as IP TV services.
TVnet had 15,000 subscribers at the end of 2005, three times the number a year earlier. The company had revenue of more than Ft 1 billion, or roughly twice the 2004 figure.
TVnet is not related to TvNetWork Nyrt, a cable TV and internet service provider which was floated on the Budapest Stock Exchange (BÉT) on Monday.