Hungary's Competition Office approves Matav's acquisition of full

Matav, Hungary's largest telecom, is buying Israeli-based Aphrodite BV's 50% stake in Emitel, local telecom operating in three primary areas in Hungary's South Alf?ld region (Baja, Kisk?r?s and Kiskunhalas), giving it full ownership of the venture.

The Competition Office (GVH) has approved the acquisition without imposing any conditions on the deal, however a minimum price of $46.5 million was implied. The official approval gives effect to the sales agreement which was signed late last year.

Matav plans to integrate Emitel into matav's present service systems within 2 years. Meanwhile, Emitel's subscribers will be able to choose from Matav's wider service range, including internet ISDN services and broadband data transmission services.

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