Brief: Magyar Telekom to sell T-Systems to Hungarian IT firm 4iG

4ig.

09/07/2019 10:09

July 9 (Reuters) - Magyar Telekom Tavkozlesi Nyrt  MTEL.BU :
    * MAGYAR TELEKOM SAYS SIGNS PRELIMARY DEAL WITH HUNGARIAN IT
COMPANY 4iG ABOUT THE SALE OF T-SYSTEMS HUNGARY TO 4iG -
STATEMENT
    * SMALL AND MEDIUM-SIZE ENTERPRISE SALES BUSINESS OF
T-SYSTEMS
WILL NOT BE PART OF THE TRANSACTION
    * T-SYSTEMS WILL CONTINUE TO SELL MAGYAR TELEKOM’S
TELECOMMUNICATIONS SERVICES IN THE LARGE ENTERPRISE AND PUBLIC
SEGMENTS
    * MAGYAR TELEKOM SAYS CLOSING OF THE TRANSACTION EXPECTED IN
2019
    * FINALIZATION AND CLOSING OF THE TRANSACTION TO SELL
T-SYSTEMS TO
4iG DEPENDS ON DUE DILIGENCE PROCESS
    * MAGYAR TELEKOM SHARES UP 2.8%, OUTPERFORMING BUDAPEST
BOURSE
.BUX WHICH IS DOWN 0.5%
    * SHARES OF HUNGARIAN COMPANY 4iG HAD BEEN SUSPENDED ON
BUDAPEST
BOURSE EARLIER IN THE DAY
    * PURCHASE PRICE TO BE PAID BY 4iG NOT DISCLOSED
    * For Reuters interview with 4iG pls see:  urn:newsml:reuters.com:*:nL8N23Q4J6

Source text: https://bet.hu/newkibdata/128262499/T_System_9july2019_eng_final.pdf
Further company coverage:  MTEL.BU 

 (Reporting by Krisztina Than)
 ((krisztina.than@thomsonreuters.com))