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Deutsche Telekom Acquires Piece of Hungarian Carrier

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NEW YORK, July 5 -- Deutsche Telekom AG has made a deal with SBC Communications to buy the remaining 50 percent of MagyarCom GmbH that it does not already own. The $2.2 billion purchase will make the German telecom the major share holder of Hungary's chief telecommunications company. SBC Communications had previously acquired a 50 percent stake in MagyarCom with the purchase Ameritech Corp. With the purchase of Ameritech, SBC got 50 percent ownership of MagyarCom GmbH, which is a holding company that owns 59.5 percent of Magyar Tavkozlesi Vallalat Rt. (Matav) -- Hungary's main telecom...Read full article

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    Published: July 2000
    CommunicationsNews & Features

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