Magyar Telekom to sell radio operator for $89 mln
BUDAPEST Aug 29 (Reuters) - Hungary's Magyar Telekom will sell its 100 percent-owned radio network operator Pro-M Zrt. for 19.9 billion forints ($88.9 million) at the end of August, the company said in a statement on Wednesday.
Magyar Telekom, a unit of Germany's Deutsche Telekom , said the buyer of Pro-M, operator of a professional mobile radio network used mainly by emergency services, was state-owned National Infocommunications Service Co.
Magyar Telekom earlier this month posted a 10.7 billion forint profit on revenue of 145 billion in the second quarter, missing expectations, and said it would raise prices and cut costs. ($1 = 223.7537 Hungarian forints) (Reporting by Marton Dunai; Editing by David Holmes)
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