Magyar Telekom Gains Fifth Day on Tender Report: Budapest Mover
Magyar Telekom Nyrt. gained for a fifth day, the longest rally in almost 10 months, after Napi Gazdasag reported that its T-Systems unit may win a tender for the construction of an electronic toll system.
Shares in the Hungarian unit of Deutsche Telekom AG (DTE) rose 1.3 percent to 392 forint by the close in Budapest. Magyar Telekom, Hungary’s former phone monopoly, last rose for five straight days in March. The benchmark BUX stock index rose 0.2 percent today.
The signing of the contract was delayed after the tender winner, Getronics, requested more time, the newspaper said. T- Systems, which offered the second-lowest bid at 53.5 billion forint ($240 million), may emerge as the winner, according to the report. State-run news service MTI said last month Hungary’s State Highway Manager delayed the signing of the contract after T-Systems disputed the process.
“It’s looking increasingly likely that Magyar Telekom’s T- Systems unit will be the winner in the e-toll tender,” Jozsef Miro, a Budapest-based analyst at Erste Group Bank AG, wrote in a research report today.
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