Hungary’s 4iG and Magyar Telekom Agree to Terminate T-Systems Deal

Magyar Telekom, the leading Hungarian telecommunications service provider announced that the Company and 4iG have decided to terminate the negotiations regarding the sale of T-Systems Hungary following 4iG’s initiative.

As the parties announced on July 9, 2019, they started negotiations on the potential sale of T-Systems Hungary to 4iG and signed a non-binding Heads of Terms. Following the initiative of 4iG, the parties have agreed to cancel the Heads of Terms. After the termination of the negotiations, T-Systems Hungary will continue to be a part of Magyar Telekom Group, supporting its goals to offer the best quality integrated ICT services to all its customers.

Magyar Telekom and 4iG intend to continue exploring cooperation opportunities with the aim of partnering in the field of services sold to the public and enterprise segments. The consortium agreements concluded earlier between the parties remain in effect with unchanged conditions. 

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