Hungarian State Firms To Enter Mobile Telecoms Market - Report
December 07 2011 - 4:03AM
Dow Jones News
A consortium of three Hungarian state-owned firms will apply to
become the country's fourth mobile telecommunications services
provider, business daily Napi Gazdasag reports Wednesday.
The consortium will include postal service Magyar Posta Zrt,
energy firm MVM Zrt and development bank MFB Zrt. The newspaper
says Magyar Posta will control 10% of the consortium, with the
other two firms getting 45% each.
It would aim to control an 11% share of the mobile market by
2017. Analysts have said it would need to spend up to 115 billion
forints ($515.7 million) in the next five years to achieve that
goal.
The Hungarian government is set to auction mobile frequency in
January, and applications to participate are to be submitted
Thursday.
Hungary's mobile telecommunication market is currently
controlled by three competitions, Vodafone Group PLC (VOD.LN),
Telenor ASA (TEL.OS) and Magyar Telekom PLC (MTELEKOM.BU), the
Hungarian arm of Deutsche Telekom AG (DTE.XE).
The latest figures from the National Media and
Infocommunications Authority show there were 11.7 million mobile
telephone subscriptions in Hungary at the end of September.
Newspaper website: www.napi.hu
-Budapest Bureau, Dow Jones Newswires; 361-267-0622
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