Magyar Telekom
 |
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| Public limited company | |
| Traded as | : MTELEKOM OTC Pink: BUX Component CETOP20 Component |
| Industry | Telecommunication |
| Founded | 1991 |
| Headquarters | Budapest, Hungary |
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Area served
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Central and Eastern Europe |
|
Key people
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Kerstin Günther (Chairwoman) Christopher Mattheisen (CEO) |
| Products | Fixed Telephony, Mobile Telephony, Broadband Internet, IT Services, Networking Solutions, Digital TV |
| Revenue |
 US$ 2.698 billion (2012) |
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US$ 263.7 million (2012) |
|
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US$ 203.86 million (2012) |
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| Total assets |
 US$ 4.702 billion (2012) |
| Total equity |
US$ 2.320 billion (2012) (on 225.1 USD/HUF) |
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Number of employees
|
10,870 (2014) |
| Parent | Deutsche Telekom (59.21% of shares) |
| Subsidiaries |
Makedonski Telekom Crnogorski Telekom |
| Website | www |
Magyar Telekom Nyrt. (Magyar Telekom Távközlési Részvénytársaság – Hungarian Telekom Telecommunications Plc.) is the largest Hungarian telecommunications company. The former monopolist is now a subsidiary of Deutsche Telekom (in 59.21% of shares). Until 6 May 2005, it was (and informally still is) known as MATÁV (Magyar Távközlési Rt. - Hungarian Telecommunications PLC.). The company was formed under the name of Magyar Távközlési Vállalat (Hungarian Telecommunications Enterprise) in December 1989, when Magyar Posta (Hungarian Post) was split to three separate enterprises. On 31 December 1991, the company was re-structured as a Public Limited Company, as Magyar Távközlési Rt., and the company remained in 100% state ownership until the end of 1993. On 1 July 1993, the Telecommunications Act came into effect, and now it was possible to privatise the company. A consortium was formed by Deutsche Telekom and Ameritech International, which was named MagyarCom, and bought into the company a share of 30.1% for a price of 875 million USD.
On 31 December 1991, after becoming three sections of the Hungarian Post service area, then in 1990 established state of the Hungarian Telecommunications Company (Matáv) was founded in 1991 on 31 December as a telecommunications operator Magyar Telecom Rt., The abbreviated name Matáv. The company remains 100% owned by the state until the end of the 1993rd Entered into force on 1 July 1993, the Telecommunications Act, [8] which is classified as a service concession to the public telephone, mobile telephone, paging and public service. Matáv, out of the privatization tender with the aim of acquiring and purchasing shares of Matáv's national telephone concession. In 1993, a contract was concluded on 22 December, whereby Matáv became the owner of 30.1% of Deutsche Telekom and Ameritech International telecommunications companies, MagyarCom Consortium, a $875 million cost.After the concession tender in February 1994 were born in the local telecom companies. Matáv's service area Hungary about 70% of the territory and 72% of the population covered 36 primary areas covered, where Matáv provided local telephone service. During the privatization process MagyarCom in the Matáv it acquired a majority stake. Under the contract signed on 22 December st 1995. The effect of the two companies forming a consortium of property of $852 million to 67.3% in so Matáv's privatization was in Central and eastern Europe's largest privatization so far, and at the same time the largest foreign investment in Hungary.
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Wikipedia