August 29, 2012 / 6:30 AM / in 5 years

Magyar Telekom to sell radio operator for $89 mln

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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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