DT funds Matáv in Montenegro

23 Mar 2005

The Hungarian telco Magyar Telekom (formerly Matáv) has announced that its parent company Deutsche Telekom is to provide a HUF28 million loan which it will use to fund its acquisition of a 51.12% stake in Serbia and Montenegro operator Telecom Montenegro (Telekom Crne Gore). Magyar Telekom, which is buying the stake from the government of the Republic of Montenegro, says it will use its own funds to buy out the minority shareholders of Telecom Montenegro to give it full control of the company.