MTel to acquire ISP and cableco Modultechnika

Hungary’s dominant telecoms operator Magyar Telekom (MTel) has agreed to acquire local cable TV and internet service provider (ISP) Modultechnika for around HUF1.5 billion (USD6.7 million) in cash, Bloomberg writes. Deutsche Telekom-backed MTel hopes to close the transaction in Q3 2010 it said in an e-mailed statement. Modultechnika is a regional service provider operating in western Hungary. MTel says the purchase will give it access to the unit’s ‘up-to-date cable TV infrastructure in areas in which Magyar Telekom currently does not provide fixed line services on its traditional network’, including Ajka and the surrounding environs.