Magyar Telekom projects growth via TV

By FNE Staff
    Hungary's Magyar Telekom reported a slight drop in revemues, but predicts growth in its new media and TV sectors.

    The Budapest Times reported that Magyar Telekom (www.magyartelekom.hu) had 2008 revenues of 0.5% less that 2007, at 2.7 billion Euros (HUF 673 billion).

    A shrinking market for landlines was blamed for the drop off. However, CEO Christopher Mattheisen pointed to a fourth quarter launch of satelite TV services as the vehicle for growth in 2009. The company aims for increases in the broadband and cable TV markets in Hungary.

    Magyar Telekom trades on the Budapest Stock Exchange as MTELEKOM HB.