Telekom-MET partnership in energy services provided for business customers - Press Releases - Press Room - Magyar Telekom

Main Menu

Skip options

  • Skip to primary navigation
  • Skip to content

Segment selector

  • Selected segmentPersonal
  • Selected segmentBusiness
  • Selected segmentEnterprise solutions
  • Selected segmentAbout us

Primary navigation

    • About Magyar Telekom
    • Company History
    • Management
    • Principles
    • Procurement
    • Telekom for Digital Hungary
    • Compliance
    • Sustainability
    • Climate and Environment protection
    • Digitization
    • Diversity and Inclusion
    • Sustainability Strategy
    • Sustainability Reports
    • Wholesale
    • National fixed-line wholesale services
    • Mobile wholesale services
    • Career
    • Sport
    • FTC
    • Music
    • Telekom Electronic Beats
    • Events
    • Telekom Spots
    • Investor Relations
    • Financial Reports
    • Investor News
    • Investor Calendar
    • Analyst Consensus
    • Presentations
    • Corporate Governance
    • General Meeting
    • Board of Directors
    • Supervisory Board
    • Management
    • Corporate Governance Documents
    • Magyar Telekom Shares
    • Share price
    • Dividend and share buyback
    • Ownership structure
    • ADR program
    • Responsible investment - achievements
    • Magyar Telekom Bond and Rating
    • Career
    • Press
    • Contact us

Search

Do you need any help?

Searches:

  • General Terms and Conditions
  • Public Informations
  • Career
  • Investor News
Number of items in your cart 0
Your cart is currently empty

Discover our offers

  • Top deals
  • Devices
  • Postpaid plans
  • TV services
  • Broadband
Login

Press Releases

Telekom–MET partnership in energy services provided for business customers

Budapest, March 11, 2015 17:30

Magyar Telekom and MET signed an agreement today to establish an equally shared joint venture that will provide natural gas and electricity services primarily for business customers.

The new joint venture will enter the market of business energy services with favourable terms and competitive offers. The change in the business energy service operation will have no impact on the residential energy service currently offered by Magyar Telekom.

The genesis of this agreement is the strategic partnership between Magyar Telekom and MOL, which has a significant ownership share in MET, signed in July 2013 and covering cooperation in the areas of sales, retail, energy retail and information technology.

The primary aim of the joint venture is to develop and improve the energy operations serving the business customers of both Magyar Telekom and MET in a competitive energy market environment. The parties see significant opportunities for synergies, driven primarily by greater economies of scale, the potential for risk sharing and the extensive industry experience and skills. Each party brings its own unique but complementary sets of strengths that will contribute to the success of this joint venture – in the case of Magyar Telekom, the experience it has gained in customer servicing and innovation through its energy market presence, matched by MET’s comprehensive experience in the wider energy industry. Through their new joint venture, the parties will create the conditions of their long-term presence and growth in the energy market. They can also improve their operational efficiency and performance, enabling additional customer benefits.

The joint venture will be set up on a 50:50 ownership basis with balanced rights in the management structure. Therefore, once the joint venture has commenced effective operations, business energy services will no longer be accounted for by the parties on a fully consolidated basis, but rather the 50% share of dividends payable by the joint venture will appear in the consolidated financial results of both owners. As a direct consequence, total revenues for Magyar Telekom are now anticipated to be proportionally lower than previously guided, down by around HUF 35-40 billion in 2017.

Due to the establishment of this joint venture, natural gas and electricity services currently provided by Magyar Telekom to business customers will be ceased in mid-term and transferred to this new joint venture. During the establishment of the joint venture, Telekom’s business customers will be served seamlessly and customer relations maintained continuously.

Completion of the transaction, which requires approval by the relevant authorities, is anticipated in the second half of 2015.

 
Contact usFind us via chat, e-mail or even by phone.
Find a storeFind a Telekom store near you and schedule an appointment!
Site searchFind what you are looking for on telekom.hu

© 2025 Magyar Telekom Nyrt.

General terms and conditionsData protectionCookie settingsMagyar
Back to the top of the page

Consent to Cookies and Other Similar Technologies

Magyar Telekom's website uses cookies and other tracking technologies that, depending on the technology used, store data on or collect data from your device. Please use the buttons below to let us know which optional cookies and other solutions – in addition to the cookies that are necessary for the operation of the site and are therefore always enabled – we may use while you are browsing our website.We use cookies and other tracking solutions to ensure the proper functioning of the website, to personalize ads and web content, to provide you with social media functions, and to measure and analyze traffic on our website. Necessary cookies are required for the functioning of our website and cannot be deactivated during visit. By using statistical and marketing cookies we share certain website usage data with third party analytics and advertisement service providers.
More details
X
clearbox ablak bezárása
slideshow megállításaslideshow elindítása