Magyar Telekom buys cable nets

December 13, 2013 10.31 Europe/London By Chris Dziadul

Magyar Telekom HQMagyar Telekom has announced that it has acquired nine small cable networks this year, spending a total of around HUF850 million (€2.8 million) in the process.

According to the company, the networks have a combined total of 33,000 subscribers and capability of offering triple-play services.

Commenting on the acquisitions, János Szabó, the telco’s CFO, said: “The nine successfully completed deals are an indication that Magyar Telekom’s acquisition activities have accelerated significantly this year. Thanks to the cable networks acquired, Telekom’s high-speed internet services reach 33,000 more households all over the country. As a result our acquisition activities contribute significantly to additions in Magyar Telekom’s customer base using fixed line services.”

Magyar Telekom says it expects to acquire more companies in Hungary’s cable and access market, which is in the process of consolidation.