Magyar Telekom’s energy joint venture approved
T-Mobile’s Hungarian subsidiary Magyar Telekom has received approval from the European Commission for its energy joint venture with Swiss-based sales and trading group MET Holding.
The joint venture builds on an agreement signed between Magyar Telekom and Hungarian energy firm MOL in July 2013, Reuters reports.
“The joint venture will face strong competition from companies currently active in the Hungarian energy markets as well as from new players,” the Commission said in a statement.
Earlier this year, Magyar Telekom acquired GTS Hungary for €42 million.