Hungarian telco up for sale

By Chris Dziadul | April 25, 2009

The Hungarian IT-cum-media company econet Invest has put its majority (76.83%) stake in the alternative telco Externet up for sale.

According to econet, it is currently in advanced talks with a company headed by Laszlo Geza, the former CEO of Antenna Hungária and Danubius Radio.

The sale, which will be at a significantly lower level than Externet’s share price due to a number of factors including difficulties in Hungary’s telco, and in particular broadband internet, market.

Externet, which offers broadband internet and telephony services and has yet to introduce IPTV, currently lists its other shareholders as Vivacom Magyarorszag (12.69%) and Kraft Invest (10.48%).