MTel signs US$199 million EIB loan
Hungary’s dominant telecoms operator Magyar Telekom (MTel) has signed a US$199 million loan deal with the European Investment Bank.
In a statement released, MTel stated that the six-year, forint-denominated loan would be used primarily to finance fixed line and mobile broadband investment projects.
MTel deploys Ethernet-over-coaxial platform for IPTV (Hungary)
www.WirelessFederation.com/news: Ethernet-over-coaxial platform has been deployed by Hungary’s dominant telecoms group Magyar Telekom (MTel) with local vendor BroadBit to enable it to deliver its IPTV service ‘T-Home TV’ direct to subscribers’ homes.
The process to roll out of the new access platform started in March this year with the use of fully passive i.e. no in-built power supply configuration.
Initial results illustrate that the service is very popular amongst users. 67,430 IPTV subscribers have been counted by MTel at the start of this year, up 136.6% year-on-year.
MTel decides business diversification (Hungary)
www.WirelessFederation.com/news: In a bid to gear up the business, Magyar Telekom (MTel) of Hungary has decided to diversify its business into the utilities services sector. The decision is also aimed at retaining existing customers amid the country’s steepest economic dip for more than a decade.
Natural gas and electricity of the Deutsche Telekom-backed telco will be resold to its residential and business users under the scheme and hopefully by next month. According to MTel, it is anticipated that participation in the retail electricity and gas market will enable Magyar Telekom to retain existing, and win new telecommunication customers with attractive energy offers.
On the other hand, 19% year-on-year loss in fourth-quarter net income was reported by the telco on a drop in revenue and rising staff costs. MTel’s net profit for 4Q09 contracted to HUF10.2 billion (USD51.7 million) in the period under review, down from HUF12.6 billion a year ago following the worst recession in the country in nearly 20 years.
MTEL stake eyed by Telekom Srpske
www.WirelessFederation.com/news: Amsterdam-based holding company Ogalar and Bosnian telco Telekom Srpske are in negotiation with each other regarding the purchase of a 49% stake in Montenegrin cellco MTEL.
The remaining 50 percent of MTEL is owned by Telekom Srbija whose 80 percent is owned by the Serbian government and 20% by Greece’s OTE. Meanwhile, 65 percent of Telekom Srpske is owned by Telekom Srbija and 25% owned by three funds based in Republika Srpska (10% by a privatization fund, 10% by the company’s Pension and Life Assurance Fund and 5% by its Restitution Fund).
10 percent of the company is owned by public.
