Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Magyar Telekom Gains to Highest Level in a Month: Budapest Mover

Nov. 12 (Bloomberg) -- Magyar Telekom Nyrt., the Hungarian unit of Deutsche Telekom AG, rose to the highest in a month after Nepszabadsag reported the government may be giving up on plans to start a competing mobile network provider.

The shares rose 1.5 percent to 419 forint by 11:20 a.m. in Budapest, the strongest since Oct. 10 on an intraday basis. The benchmark BUX stock index slipped less than 0.1 percent to 19,039.

While the government said in October it still wanted to encourage the opening up of the telecommunications industry to reduce prices for consumers, the Cabinet may now decide to abandon the plan, Nepszabadsag said, citing unidentified people. A Budapest court in September voided a tender that awarded a license to a group of state-owned companies to compete with Magyar Telekom and the Hungarian units of Vodafone Group Plc and Telenor ASA.

“We expect some positive reaction in Magyar Telekom shares” to the report, Gergely Palffy, a Budapest-based analyst at KBC Groep NV, wrote in a research report.

To contact the reporter on this story: Andras Gergely in Budapest at

To contact the editor responsible for this story: Gavin Serkin at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.