MTel acquires cableco for around USD3.39 million

Hungary’s dominant telecoms operator Magyar Telekom (MTel) has agreed to acquire 100% of regional cable operator Del-Vonal for a total consideration of less than HUF500 million (USD3.39 million), Portfolio.hu reports. The deal is being conducted through MTel’s wholly owned subsidiary T-Kabel Magyarorszag. Del-Vonal owns cable networks in the local telephone operator (LTO) areas of Bekes and Csongrad counties and has around 3,800 basic cable TV and 500 cable broadband subscribers on its network. The transaction is expected to close in August 2008.