Magyar Telekom exits RTL Klub

April 30, 2008 – 12:42 BST

The incumbent Hungarian telco Magyar Telekom is set to become the country’s leading interactive mobile service provider and at the same time lose its interest in RTL Klub

This follows the company’s decision to buy out its partner IKO Partner and acquire full stakes in IKO New Media and IKO Content and Rights.
The deal, which still has to receive regulatory approval, will also net the telco a HUF2 billion (€7.92 million) fee for relinquishing its stake in M-RTL, which holds a 31% stake in RTL Klub, Hungary’s leading broadcaster.