Telekom signals huge investment in Hungary
February 24, 2014 08.55 Europe/London By Chris Dziadul
Magyar Telekom HQMagyar Telekom has entered into a partnership with the Hungarian government in order to enhance the country’s digital development.
Quoting an official document signed by the two parties, the incumbent telco says it attends to make further investments so as to foster the provision of high-speed broadband internet in Hungary.
It also aims to promote digital literacy and the widespread adoption of safer internet use.
Significantly, a report in Portfolio says that Deutsche Telekom, which indirectly holds a 59.21% stake in Magyar Telekom, plans to invest €1 billion in Hungary as part of the deal over the next four years, with the Hungarian government adding a further HUF80 billion (€257.2 million) to digital development.
Commenting on the partnership, Timotheus Höttges, CEO of Deutsche Telekom, said: “I welcome the objectives of this strategic partnership for a prosperous Digital Hungary. We are combining our efforts with the Government in order to make high-speed broadband Internet available to every home by 2018. As a result, Hungary could achieve the objectives specified for 2020 in the Digital Agenda for Europe before the deadline and could serve as an example for other member countries.”
Christopher Mattheisen, CEO of Magyar Telekom, added: “Telekom is Hungary’s strategic partner with a long-term commitment. Our company is creating special value in both the private and the public sectors with its state-of-the-art solutions that make everyday life simpler and easier. We are active in the areas of healthcare, public administration, education and transportation, and we also work successfully with Hungary’s small and medium-sized businesses as well as major manufacturers and exporters. We are proud that Magyar Telekom has been the first to bring the most advanced telecommunications products and ICT innovations to Hungary.
“For example, users in Hungary were the first in the world to be able to send MMS messages with the help of Magyar Telekom, and now they are among the first in Europe to use the superfast 4G network. As Hungary’s first and only integrated operator we offer Internet, TV and phone connection, regardless of time and place, for millions of consumers. Besides our pioneering innovations, we are also major employers as our Group employs more than 12 thousand highly qualified professionals in Hungary. In addition, more than 100 thousand people work for our suppliers, including over 3 thousand Hungarian SMBs.”