HTCC completes acquisition of Tele2 Hungary (Hungary)Hungarian Telephone & Cable (HTCC) has completed the acquisition of Tele2 Hungary from Sweden-based alternative operator Tele2. Tele2 Hungary resells fixed-line phone services using the network facilities of other operators under resale agreements. It has around 460,000 consumer customers using carrier pre-selection or carrier selection services. The takeover boosts HTCC’s consumer customer base to over one million. Tele2 Hungary will continue to operate as a standalone operation in the near term using the Tele2 brand name. Thereafter, it will be integrated with HTCC’s operations and operate under the Invitel brand name. Tele2 Hungary generated revenue of HUF 10.7 billion (around USD 61 million) in 2006. The purchase price has been paid in cash. It was based on an enterprise value of EUR 4 million, which will be adjusted for the net debt and net working capital levels of Tele2 Hungary as of the completion of the transaction.
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