BUDAPEST--Hungary's largest telecommunications firm Magyar
Telekom Nyrt. (MTELEKOM.BU) Chief Executive Christopher Mattheisen
and oil and gas firm MOL Nyrt. (MOL.BU) Chairman and CEO Zsolt
Hernadi signed a strategic agreement between the two groups
Tuesday.
MAIN FACTS:
- The agreement involves cooperation in marketing, retail,
energy retail and information technology. It contains a letter of
intent about cooperation in expanding various wholesale and retail
services; areas of marketing, sales and telecommunication.
- "Two dominant companies of the Central-European region signed
an agreement for future cooperation. ... The cooperation will offer
mutual benefits for both parties. Moreover, it can also contribute
to expanding Hungary's economy," Mr. Hernadi said in the statement
issued by the companies.
- "The agreement signed today means that the two market-leading
groups as the key driving forces of the Hungarian economy will
combine resources for the benefit of their clients and the interest
of the country. ... We are sure that [by] combining our skills,
knowledge and competencies we will be more successful both in
Hungary and in the region," Mr. Mattheisen said.
- MOL traded down 0.2% or HUF25 at HUF16,935 at 1440 GMT.
- Magyar Telekom traded flat at HUF332 at 1440 GMT.
Write to the Budapest bureau at budapest@dowjones.com
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