Budapest, August 31, 2007 10:00

Magyar Telekom has completed the transaction to acquire the remaining 49% in T-Systems Hungary, increasing its stake to 100%.

In line with the announcement on 2 January 2007, Magyar Telekom has increased its shareholding in T-Systems Hungary to 100% with effect from 31 August 2007. In parallel, the streamlining of T-Systems Hungary via the separation of additional assets to a company 100% owned by Deutsche Telekom (IT Services Hungary Kft.) was also completed. The combined impact of all the transactions on Magyar Telekom is cash neutral.