Matáv and T-Systems sign agreement for joint venture and carrier cooperation deal

19 Jul 2004

Hungary’s incumbent PTO Matáv is reported to have signed a deal with Deutsche Telekom’s T-Systems International division to create a new joint venture and forge an international carrier cooperation partnership. In addition, T-Systems’ Hungarian subsidiary has also reached agreement on a strategic alliance with Matáv, enabling the two to jointly develop business opportunities in the IT and telecoms markets. Under the joint venture deal, Matáv will acquire 49% of T-Systems Hungary through the purchase of shares worth HUF1.4 billion (EUR5.6 million) and a HUF2 billion (EUR8 million) capital increase. In addition, the Hungarian telco will act as a partner of T-Systems International’s carriers’ carrier division – International Carrier Sales & Solutions – establishing points of presence (PoP) in Bulgaria, Romania, Greece, Moldavia, Serbia, Montenegro and the Ukraine. Matáv and T-Systems Hungary will cooperate as strategic partners, offering integrated solutions to Hungary’s top 200 businesses.

Germany, Hungary, Magyar Telekom, T-Systems Brasil