Magyar Telekom Slumps as Buyout Bets Seen Fading: Budapest Mover
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Magyar Telekom Nyrt. fell the most in more than five months as bets for a takeover by majority owner Deutsche Telekom AG faded after the parent’s plans to sell a U.S. mobile unit were said to fail.
Hungary’s largest telecommunications company fell 3.7 percent to 361 forint by close in Budapest, the biggest drop since Feb. 21. The stock led decliners in the BUX index, which slid 1.7 percent. About 3.7 million shares were traded, almost three times the three-month daily average.