Magyar Telekom acquires sister company GTS Hungary from Deutsche Telekom

26 Feb 2015

Deutsche Telekom’s (DT’s) Hungarian unit Magyar Telekom (MTel) has announced its acquisition of alternative broadband provider GTS Hungary from GTS Central Europe; GTS has been owned by DT since April 2014.

An investor release from MTel, Hungary’s largest fixed line operator in terms of subscribers, notes that the company has approved a share purchase agreement to acquire a 100% stake in GTS Hungary for a cash and debt free price of around EUR42 million (USD47.7 million). The acquisition aims to strengthen MTel’s market position in the business sector, with the operator planning to fully integrate GTS into the MTel within ‘a couple of years’. The transaction is expected to conclude in 2Q 2015.

Hungary, Deutsche Telekom (DT), GTS Hungary (part of Magyar Telekom), Magyar Telekom