Hungary’s dominant telecoms operator Magyar Telekom (MTel) plans to absorb its wholly owned cable service provider T-Kabel through a legal merger of the company in a bid to save HUF1 billion (USD5 million) per annum. The planned merger, which is subject to the approval of an EGM scheduled for 29 June 2009, will also involve Del-Vonal, a 100% subsidiary of T-Kabel. ‘The merger will enable the company to increase cost efficiency by exploiting synergies of joint operation, facilitating cost reductions and the optimal usage of financial and human resources,’ MTel said in a statement.
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