MTel affiliate Vidanet acquires smaller rivals; expands cable footprint

Hungary’s largest telco by subscribers and revenues, Magyar Telekom (MTel), says its cable affiliate Vidanet has concluded the purchase of two smaller players – Csoma and Kapuvar – and their respective cable businesses. The acquisition gives Vidanet access to 20,800 households in western Hungary where the two cablecos currently offer a range of cable TV, internet and wholesale voice services via their own network infrastructure there. The newly acquired businesses collectively generate revenue of HUF650 million (USD2.7 million) per annum, as well as EBITDA of HUF275 million, and boast 11,400 cable TV users, 4,500 broadband connections and a similar number of voice telephony contracts.