Magyar Telekom cancels sale of T-Systems Hungary to 4iG

Hungary’s Magyar Telekom has announced that negotiations regarding the proposed sale of its enterprise ICT subsidiary T-Systems Hungary to 4iG have been terminated. Telekom and 4iG announced in July that they were negotiating the sale and signed a non-binding Heads of Terms, but Telekom has now disclosed that ‘following the initiative of 4iG’ the parties have agreed to cancel the Heads of Terms. The statement added: ‘Magyar Telekom and 4iG intend to continue exploring cooperation opportunities with the aim of partnering in the field of services sold to the public and enterprise segments. The consortium agreements concluded earlier between the parties remain in effect with unchanged conditions.’