Magyar Telecom

Magyar Telekom Nyrt.
legal form	Corporation
ISIN	HU0000073507
founding	December 31, 1991
Seat	Budapest , Hungary
management	Christopher Mattheisen ( CEO )
Number of employees	10,357 (March 2016)
sales	EUR 2.08 billion (2015)
Branch	telecommunications
Website	www.telekom.hu

The Magyar Telekom Nyrt. ( Magyar Telekom Távközlési Nyilvánosan Működő Részvénytársaság , German : Hungarian Telekom Telekommunikation Aktiengesellschaft ) is a subsidiary of Deutsche Telekom AG and is one of the leading telecommunications companies in Hungary . It emerged from the former state-owned Magyar Posta and is listed as a stock corporation on the Budapest Stock Exchange .

history

Magyar Telecom headquarters in Budapest

With effect from December 31, 1989, the Hungarian Post was divided into independently operating companies (Post, Radio and Telecommunications). Two years later, the telecommunications division was transformed into Matáv Hungarian Telecommunications Ltd. outsourced, but remained 100% state-owned.

The MagyarCom consortium, consisting of Deutsche Telekom and Ameritech , took over 30.29 percent of Matáv at the end of 1993 for the purchase price of 875 million dollars. A year later, the consortium became the majority shareholder for a purchase price of $ 852 million and now held 59.53 percent. The privatization of Matáv thus became the largest privatization in Central and Eastern Europe and the largest investment in Hungary .

In the further course of privatization, the company went public on the stock exchanges in Budapest and New York . On November 14, 1997, the Hungarian state sold another 26 percent on the open market. With the IPO in New York, Matáv became the first Central European company to be traded on the New York Stock Exchange .

In 2000, Deutsche Telekom took over from its partner SBC Communications Inc. (rights holder of Ameritech) for a purchase price of 2.2 billion dollars, their 29.95 percent stake in MagyarCom. This made Deutsche Telekom the sole majority shareholder in Matáv. The remaining 40.47 percent of the shares in Matáv were in free float, while one share remained in the possession of the Hungarian state.

The Westel 900 mobile communications division achieved a market share of 55 percent in the growing mobile communications market with 842,000 customers. Deutsche Telekom held 49 percent of Westel and agreed a right of first refusal in favor of Matáv by December 31, 2001 at the latest. Matáv exercised its right of first refusal in December 2001 and took over the shares from Deutsche Telekom AG for a previously agreed purchase price of 855 million dollars .

The company expanded in 2001 with the takeover of Makedonski Telekomunikacii (MakTel) , the telecommunications provider in Macedonia , and Emitel Rt. (Telecommunications solutions in the business sector).

Due to the liberalization of the Hungarian telecommunications market, Matáv's monopoly position ceased in 2002.

Logo between 2005 and 2008

Logo of the former Matáv

Logo of the former Axelero

As part of a restructuring into the business, private and mobile customer segments, the takeover of the remaining shares in T-Mobile Hungary (formerly Westel) took place in January 2005. In March 2005, Matáv took over the majority of 51.12 percent of Telekom Crne Gore (TCG), a telecommunications company in Montenegro, for a purchase price of € 114 million . Another 16 percent were bought from other company owners for 17 million euros. On May 6, 2005 the company was renamed Magyar Telekom . So the biggest change of name in Hungary went into the decisive round. At the same time, all branches of the business got the T in their name. The company color changed to the typical Telekom magenta. The individual divisions were given the following names:

• T-Com fixed network division for private customers (formerly Matáv Wireline Services Line of Business )
• T-Systems fixed network division for corporate customers (formerly Matáv Business Services Line of Business )
• T-Online internet provider (formerly Axelero )
• T-Kábel cable network division (formerly MatávKábel TV )
• T-Pont retail facilities (formerly Matáv-Pont )

Another rebranding was carried out in autumn 2008, so that Magyar Telekom now appears with the same brand structure as it does on the German market: T-Home for communication at home, T-Mobile for on the go and T-Systems for business customers.

Due to the complexity of the financial reports according to the requirements of the American SEC and the regulatory authorities in Hungary, the delisting on the New York NYSE and transition to OTC trading took place on November 12, 2010. In the future there will only be a listing on the stock exchange in Budapest.

At the end of 2013, Magyar Telekom announced that it intends to take over nine cable network operators with around 33,000 connected households.

In January 2017, Hrvatski Telekom took over the stake in Telekom Crne Gore , which has meanwhile increased to 76.53 percent . Like Magyar Telekom, Hrvatski Telekom is a subsidiary of Deutsche Telekom AG.

Company structure

As part of the strategic realignment of Deutsche Telekom and its subsidiaries, the division for private and business customers was bundled under the uniform Telekom brand , as was the case with Telekom Deutschland GmbH . The activities in the corporate customer area are managed as T-Systems.

• Telekom (landline, cellular, TV and Internet)
• T-Systems (corporate customers)

Former structure of the company

• T-Systems (fixed network corporate customers)
• T-Com (landline private customers) - over 3 million landline connections
• T-Online (internet provider) - approx. 200,000 internet users and approx. 1.5 million freemail users
• T-Mobile (mobile communications) - 50% market coverage with 4 million customers

management

Surname	Function (Magyar Telekom Plc.)	Function (T-Systems Magyarország Zrt.)	Member since
Christopher Mattheisen	CEO (Chairman & CEO)		December 6, 2006
Tibor Rékasi	Chief Commercial Officer Residential (CCO)	Chairman (Chairman)	October 1, 2013
Zoltán Kaszás	Chief Commercial Officer Enterprise (CCO)	Member of the Supervisory Board	July 1, 2017 (provisional from Jan.)
Balázs Máthé	Chief Legal and Corporate Affairs Officer		July 1, 2010
János Szabó	Chief Financial Officer (CFO)	Member of the Supervisory Board	April 1, 2013
Zsuzsanna Friedl	Chief Human Resources Officer		March 27, 2017
Kim Kyllesbech Larsen	Chief Technology and IT Officer		February 10, 2017

criticism

Although Matáv was considered a Hungarian success story, a total of 15 complaints were submitted to the Hungarian regulatory authority by private concession companies for regional networks in the course of the preparations for the IPO . The reasons were excessive long-distance charges (around 40 percent of income) for using the Matávnetze.

Sponsorship

• Matáv supports events in the fields of culture, sport and entertainment. Above all, classical music, jazz, theater productions and larger sporting events are supported.

Individual evidence

1. ↑ ^{a b} Deutsche Telekom in Hungary , on the website of the parent company, accessed on September 15, 2016
2. ^ Magyar Telecom. Retrieved March 12, 2018 . 
3. ^ Magyar Telecom. Retrieved March 12, 2018 . 
4. ^ Magyar Telecom. Retrieved March 12, 2018 . 
5. ^ Magyar Telekom Group acquires nine smaller cable assets - Investor News - Investor Relations - Magyar Telekom. Retrieved March 12, 2018 . 
6. ^ Magyar Telecom. Retrieved March 12, 2018 . 

Web links

Commons : Magyar Telekom's Management  - collection of images, videos and audio files

• Homepage Magyar Telekom (Hungarian / English)
• T-Systems Hungary