Magyar Telekom, Hungary’s leading telecommunications group, has announced that it has extended its frequency usage rights for 11 billion forints.
Based on the resolution of the National Media and Infocommunications Authority, Magyar Telekom’s frequency usage rights in the 2100 MHz frequency band, which would have otherwise expired on 27 December 2019, have been extended until 27 June, 2027.
For the three duplex 5 MHz frequency blocks Magyar Telekom is required to pay a price of HUF 11 billion, due in the first quarter of 2019.
The one-time fee of the frequency band prolongation, as well as the present value of the future annual band fees of HUF 4.2 billion will be capitalized in the fourth quarter of 2018.
MTel said the move was necessitated by its commitment to ensure its customers the high-quality 3G service provided by the 2,100 MHz frequency band. The prolongation also makes it possible for the most cutting-edge and future-proof mobile technologies to be used in this frequency band.
No reaction was shown by MTel’s share price today, it was up 0.1% at HUF 451.50 on the Budapest Stock Exchange (BSE).
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