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HTCC merges subsidiaries with Invitel

8 Jan 2008

Alternative telecoms operator Hungarian Telephone and Cable Corp (HTCC) says it has completed another step in its integration process following its acquisition of rival telco Invitel. As of 1 January 2008, HTCC formally concluded the legal consolidation of several of its domestic operating subsidiaries – Hungarotel, PanTel, and Euroweb – into Invitel, completing the legal consolidation process which it started in 2007. Going forward HTCC will market its products and services under the unified Invitel brand name. Meanwhile, HTCC’s outsourcing services business PanTel Technocom will remain a legally independent entity, operating under the new name Invitel Technocom, while the Hungarian operation which was acquired from Tele2 will continue to operate as separate entity under the brand name Tele2. The operator says it hopes to benefit from improved efficiencies and reduced administrative costs as a result of the merger. The company is the second largest fixed line telecoms and broadband ISP in Hungary, with more than a million customers. It delivers voice, data and internet services in competition with Magyar Telekom and is also a major player in wholesale telecoms markets in central and eastern European countries.

Hungary, Invitel (part of DIGI)

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