Hungary's Supreme Court has upheld a decision of the Budapest Metropolitan court from September 2012 cancelling the results of a frequency auction held in January 2012, MTI news agency informed. Under the Municipal Court's ruling the newly established state-owned telecom MPVI had unlawfully won the right to build its own network since state-controlled entities were not allowed to take part in the tender. MPVI paid HUF 10bn (EUR 35.1mn) for a 5MHz frequency block in the 900MHz band. It was established as a consortium of three state-owned companies - power utility MVM (45% share), development bank MFB (45% share) and Magyar Posta (10% share). Following the Supreme Court's decision, MPVI will review opportunities for future operations. It has earlier announced readiness to launch test operation in central Budapest and start commercial service in a year. |
Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more
The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more
The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more