Kusch expects growth to pick up in the second half of the year, while revenues and Ebitda are seen falling 5-7% in 2010. As 20% of Ebitda is generated by foreign subsidiaries, forint weakness would boost revenues in forint terms. The company drew up its business plan based on an exchange rate of Ft 270 per euro.

Magyar Telekom will continue to focus on maintaining its strong cash-generating ability, Kusch said. He confirmed that capital investments will be 5% lower this year, with some projects put on hold. The company will focus on developing broadband internet and optical and cable television networks.

The company will decide in a few months whether to delist its shares from the New York Stock Exchange, Kusch said. Parent company Deutsche Telekom announced last month that it intends to delist its shares in New York."

Source: Hungary Around the Clock.

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