Magyar Telekom (MTel) has announced that the shareholders’ assembly at its subsidiary Makedonski Telekom (MakTel) has approved the telco’s proposed merger with its 100% owned subsidiary T-Mobile Macedonia. MTel notes that both MakTel and T-Mobile Macedonia have been in the process of merging their operations into a single entity for a number of years. The effective date of the merger is 1 July 2015.
MakTel is the primary fixed line service provider in Macedonia, holding market leadership positions in the fixed voice, fixed broadband and pay-TV markets. Meanwhile, T-Mobile Macedonia is the country’s leading mobile operator by subscribers.
MTel owns 51% of MakTel’s shares through Stonebridge AD, which is a 100% owned subsidiary of the Hungarian incumbent.