Thursday, November 25, 2010

EIB Grants EUR 150 Million Loan to Magyar Telekom

The European Investment Bank (EIB) is providing a loan of EUR 150 million to Magyar Telekom to further develop telecommunications infrastructure in Hungary. The money will be used to co-finance the development of Magyar Telekom's mobile networks -- 3G and LTE, and fixed line telecoms infrastructure (Next Generation Access, copper, cable) over the period 2010 -- 2013.

Deutsche Telekom is the parent company of Magyar Telekom.
  • In 2008 the European Investment Bank provided a loan of EUR 200 million to Magyar Telekom to finance the upgrading and development of mobile networks.