Deutsche Telekom to invest in Hungarian broadband
21 February 2014 | Sophie Donoghue
Deutsche Telekom is planning on investing approximately a billion dollars in a Hungarian high speed internet network over the next few years.
The German operator owns 60% of Magyar Telekom, the national telecoms company. The investment plan includes both fixed and mobile broadband services, Magyar announced.
The operator’s CEO, Timotheus Hottges announced that the company has agreed a deal with the Hungarian government and the EU which will see the provision of broadband to every household nationwide by 2018.
"Within the right regulatory framework, a framework that also includes government and EU support for underdeveloped areas, we are willing and able to develop high-speed broadband internet access for all Hungarians," said Hottges.
This week Deutsche Telekom also announced that it is close to finalising an agreement with Greek officials to increase its 40% stake in OTE.