Hungary’s incumbent fixed line operator Magyar Telekom (MTel) has acquired the remaining 2.8% it did not already own in Budapest-based peer Elso Pesti Telefontarsasag (EPT), a firm which originally provided international wholesale termination and origination services via voice-over-internet protocol (VoIP) technology. Dow Jones Newswires says MTel exercised its right to acquire EPT shares not purchased through a public offer process announced in January this year. The Hungarian PTO owned 97.2% of EPT at the time the offer process was made – at a price of HUF16,300 (USD88.31) per share. Today, EPT provides contact centre, customer relationship management (CRM) and property management services, mainly to its owner.
According to EPT’s website, the company was established in 1992, as First Pest City Telephone Company, with the aim of solving the supply of telephony services in several districts of Budapest and providing troubleshooting and customer service functions. When EPT achieved its mission, its scope of activities changed following a joint decision of its management and MTel, its major owner (then with 97.2%).