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Yettel, Cetin Sign Cooperation Agreement With Hungarian Government

• 1 May 2024 1:07 PM
• Hungary Matters

The government signed a cooperation agreement with telecommunications company Yettel Magyarország and infrastructure company Cetin Hungary.

Yettel Magyarorszag and Cetin Hungary have pledged to plough at least 72 billion forints (EUR 184.3m) into network developments by 2028, raising 5G coverage to 99% of residential areas by the end of the period, in the framework of the agreement, which also affirms the government’s commitment to phase out the windfall profit tax for telcos from 2025.

National Economy Minister Márton Nagy said the agreement extended to cybersecurity, support for SMES, innovation and cooperation with universities, as well as to network developments.

He noted that the government had already signed similar agreements on the establishment of a competitive tax environment in exchange for contributions to advancing Hungary’s digital development with all of the other big telcos in the country.

Yettel Magyarország and Cetin Hungary will cooperate on the development of state-owned networks, undertake 5G pilot projects and incentivise the use of 5G technology by businesses, he added.

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