Equity

Hungary's 'Mészáros & Co.' remains interested in local Telenor arm

February 16, 2018, 8:34 am  english version Hungarian version  
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Hungary’s Konzum Nyrt., an interest of Lőrinc Mészáros, an ally of Prime Minister Viktor Orbán, maintains its interest in the telecommunications sector, Chairman-CEO Gellért Jászai told InfoRadio in an interview late on Thursday. He added that if Telenor’s local operation does indeed go up for sale, it could be a potential investment target for his company. The banking and insurance markets are also strategic businesses where Konzum would like to expand in, he said.


As regards "market rumours" about a potential takeover of the local operation of Norwegian mobile carrier Telenor, Gellért Jászai said Konzum had published a strategy at the end of last year that was not a highly detailed sectorial strategy, but telecommunications was flagged within IT as an interesting strategic or potentially strategic industry for Konzum. "I can confirm that it remains appealing for us."

According to market sources, Telenor intends to sell its Central and Eastern European interests, and they also say on the market that there are several companies that wish to buy those.

All I can add to that is that if there is such a process this potential investment could be interesting for us. I cannot confirm or deny anything else.


The Chairman-CEO said Konzum wants to build up strategic positions in strategic sectors. The financial, banking and insurance markets are among such sectors, we would like to expand more in these, he added. A 49% stake in MKB Bank is already significantly influenced by Konzum, he said.

Asked whether Konzum is interested in buying Budapest Bank, Jászai replied that the issue is not on the agenda yet.

"Once it is [on the agenda] you should ask [again]." Jászai only confirmed that the group intends to further develop and grow in each strategic sector it is already present in.
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