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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

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