Monday, September 5, 2011

Hungary Power Wholesaler To Take Slice Of Telecom Market

State-owned Hungarian power wholesaler MVM Zrt. is stepping up efforts to enter the local telecommunications market, MVM communications director Gyorgy Felkai said.

The move would involve taking over business interests currently held by Magyar Telekom Nyrt., Hungary's largest telecommunications firm by market share which is majority-owned by Germany's Deutsche Telekom AG (DTE.XE).

The move, though not unprecedented, remains relatively rare, though energy companies have in the past invested a bit more widely in long-haul communications ventures and assets.
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