UPDATE 1-Magyar Telekom buys back $16.5 mln worth of shares

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June 25 (Reuters) - Magyar Telekom says in statement posted on Budapest Stock Exchange web site:

* ACCEPTED OFFERS AT SHARE BUYBACK AUCTION FOR A TOTAL OF 5.2 BILLION FORINTS ($16.51 MLN)

* BUYS BACK SHARES AT AVERAGE PRICE OF HUF 396.59, HIGHEST ACCEPTED OFFER AT HUF 400

* HUF 5.2 BLN EQUALS PREVIOUSLY ANNOUNCED MAXIMUM VALUE

* RECEIVED OFFERS TOTALLED NEARLY FOUR TIMES ANNOUNCED MAXIMUM VALUE Source text for Eikon: [bit.ly/31gwkWP] Further company coverage: ($1 = 315.0100 forints) (Reporting by Marton Dunai)

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