Magyar Telekom sells mobile radio network operator Pro-M
Pro-M was established by Magyar Telekom and T-Mobile Hungary in 2005 to build out and operate a national Unified Digital Radio Network (EDR) system in Hungary.
Magyar Telekom has signed a share purchase agreement to sell its mobile radio network operator Pro-M to National Infocommunications Service Company Limited by Shares. As consideration for the equity sale, Pro-M loans from Magyar Telekom and Pro-M’s working capital needs, the total price of the transaction is HUF 19.9 billion. A final breakdown of the total transaction price will be determined at closing, which is expected to take place at end-August.
Pro-M was established by Magyar Telekom and T-Mobile Hungary in 2005 to build out and operate a national Unified Digital Radio Network (EDR) system in Hungary. EDR is a national 380-400MHz band professional mobile radio network used by the emergency services and other public safety bodies. EDR runs on TETRA technology.
Owned by the Hungarian State, National Infocommunications Service Company is responsible for operating telecommunications infrastructure in the public sector.
Source: Telecompaper
