DT transfers MTel stake to Dutch holding company

German telecoms group Deutsche Telekom (DT) is transferring its majority holding in Hungary’s Magyar Telekom (MTel) to a Dutch company, in a move aimed at creating a holding structure. Portfolio cites an approval by the Hungarian Energy and Public Utility Regulatory Authority as showing that Germany’s T-Mobile Global Holding Nr. 2., controlled by DT, is handing over its 59.21% stake in MTel to CMobil, a company registered in the Netherlands. MTel was directly owned by Deutsche Bank-created MagyarCom Holding until earlier this year, when the latter was amalgamated into its direct parent company T-Mobile Global Holding Nr. 2, which thus became the majority owner of MTel. Following the latest transaction, CMobil now controls a majority stake in both DT’s Hungarian and Czech subsidiaries.