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Magyar Telekom
Magyar Telekom Nyrt. (Magyar Telekom Távközlési Részvénytársaság – Hungarian Telekom Telecommunications Plc.) is the largest Hungarian telecommunications company. The former monopolist is now a subsidiary of Deutsche Telekom (in 59.21% of shares). Until May 6, 2005, it was (and informally still is) known as ''MATÁV'' (''Magyar Távközlési Rt.'' - Hungarian Telecommunications PLC.). The company was formed under the name of ''Magyar Távközlési Vállalat'' (Hungarian Telecommunications Enterprise) in December 1989, when ''Magyar Posta'' (Hungarian Post) was split to three separate enterprises. On December 31, 1991, the company was re-structured as a Public Limited Company, as ''Magyar Távközlési Rt.'', and the company remained in 100% state ownership until the end of 1993. On July 1, 1993, the Telecommunications Act came into effect, and now it was possible to privatise the company. A consortium was formed by Deutsche Telekom and Ameritech International, which was named ''MagyarCom'', and bought into the company a share of 30.1% for a price of 875 million USD.
==History==
On 1991, December 31, after becoming three sections of the Hungarian Post service area, then in 1990 established state of the Hungarian Telecommunications Company (Matáv) was founded in 1991 on 31 December as a telecommunications operator Magyar Telecom Rt., The abbreviated name Matáv. The company remains 100% owned by the state until the end of the 1993rd Entered into force on 1 July 1993, the Telecommunications Act, () which is classified as a service concession to the public telephone, mobile telephone, paging and public service. Matáv, out of the privatization tender with the aim of acquiring and purchasing shares of Matáv's national telephone concession. In 1993, a contract was concluded on December 22, whereby Matáv became the owner of 30.1% of Deutsche Telekom and Ameritech International telecommunications companies, MagyarCom Consortium, a $ 875 million cost.After the concession tender in February 1994 were born in the local telecom companies. Matáv's service area Hungary about 70% of the territory and 72% of the population covered 36 primary areas covered, where Matáv provided local telephone service. During the privatization process MagyarCom in the Matáv it acquired a majority stake. Under the contract signed on December 22 st 1995. The effect of the two companies forming a consortium of property of $852 million to 67.3% in so Matáv's privatization was in Central and eastern europe's largest privatization so far, and at the same time the largest foreign investment in Hungary.
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