• Home
• Channel: Business
• State Sells Stake In Telco Yettel to Help Buy Budapest Airport

State Sells Stake In Telco Yettel to Help Buy Budapest Airport

• 20 Dec 2023 7:36 AM
• Hungary Matters

State-owned Corvinus International Investment has signed agreements on the sale of its 25% stakes in Yettel Magyarország and Yettel Real Estate Hungary, and its 20% stake in CETIN Hungary to a member of Czech investment company PPF Group, the Economic Development Ministry said.

Proceeds from the sale will be used to finance the purchase of Liszt Ferenc International operator Budapest Airport, the ministry said.

The government will continue to play a role in the telecommunications sector through its cooperation pacts with Magyar Telekom and Vodafone as well as Corvinus’s 29.5% stake in Vodafone Hungary, the ministry said.

The ministry did not disclose the sale price.

MTI Photo: Sándor Szabó

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Yettel Budapest Airport

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

Mega Price Tag Revealed: Hungarian State to Buy 80% of Budapest Airport in First Step

• 9 Feb 2024 8:54 AM

The Economy Ministry has transferred €848.8 million to the accounts of state holding company Corvinus to buy a majority stake in Airport Holding Consulting, the parent company of Budapest Airport, website 24 reports.



Final Agreement on Repurchase of Budapest Airport Set for This Month by Gov't

• 7 Feb 2024 9:06 AM

An agreement on the buy-back of Budapest Airport could be reached as early as February, Márton Nagy announced at a press event, reports Világgazdaság.



Could Nationalisation Make Budapest Airport More Expensive?

• 19 Sep 2023 4:59 PM

The Hungarian government has just made a new offer of around €4 billion (1,500 billion Hungarian forints) to purchase Budapest Airport according to Bloomberg.



Formal Bid to Buy Budapest Airport Made by Hungarian Government

• 6 Sep 2023 7:11 AM

Hungary has submitted a formal bid to acquire a majority stake in Budapest Airport. According to Bloomberg, the transaction could be worth up to EUR 4 billions.