Magyar acquires Orbitel for EUR8 million; promises EUR7 million investment

30 Nov 2005

Hungarian telco Magyar Telekom has bought 100% of Bulgarian alternative fixed line and internet service provider Orbitel for EUR8 million. As part of the deal, Magyar has agreed to a development plan involving investment of around EUR7 million in Orbitel’s network in the next few years. Orbitel offers IP-based voice and data services mainly focused on the business sector. In 2004 the company generated EUR9.3 million in revenues and EUR1.1 million in EBITDA; it employs 133 staff. Magyar Telekom is majority owned by Germany’s Deutsche Telekom.

Bulgaria, Magyar Telekom