Magyar Telekom acquires telecommunication provider based in Hungary
Magyar Telekom has announced its exercise of a call option which allows the acquisition of Cecoin Kft. for a purchase price of HUF6.95 billion (US$18.24 million).
Cecoin Kft. is a fiber network covering 110 thousand access points and is used to serve 38 thousand subscribers in Hungary. In 2014, Magyar Telekom concluded an agreement on the build-out of a fiber network and in 2015 a 12-year lease contract with Cecoin Kft. The closing of the transaction remains subject to notification and acknowledgment by the relevant authority.
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