Magyar Telekom Nyrt.

12/04/2018 | Press release | Distributed by Public on 12/04/2018 09:39

Frequency license of Magyar Telekom extended

Budapest,December 4, 201816:30

Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB), the leading Hungarian telecommunications service provider hereby announces that based on the resolution of the National Media and Infocommunications Authority, its frequency usage rights in the 2100 MHz frequency band otherwise expiring on December 27, 2019 have been prolonged until June 27, 2027.

For the three duplex 5 MHz frequency blocks Magyar Telekom is required to pay a price of HUF 11 billion, due in the first quarter of 2019. The one-time fee of the frequency band prolongation, as well as the present value of the future annual band fees of HUF 4.2 billion will be capitalized in the fourth quarter of 2018.

This investor news may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Reports for the year ended December 31, 2017 available on our website at https://www.telekom.hu.