Company takes 49% stake in MKM-Tel, initially invests $50 million Unisource to Expand into Hungary.AMSTERDAM/BUDAPEST--(BUSINESS WIRE)--Oct. 17, 1997--Unisource NV, today announced that, together with its partner Antenna Hungari, the national broadcasting company Noun 1. broadcasting company - a company that manages tv or radio stations company - an institution created to conduct business; "he only invests in large well-established companies"; "he started the company in his garage" , it has been awarded the tender bid for the acquisition of a 49% stake in the Hungarian telecommunications company See telecom company. MKM-Tel. Of this 49% Unisource will hold 40% and Antenna Hungari 9%. The core business of MKM-Tel will initially be the provision of high speed data and other non-concession communications services to Hungarian businesses and will directly compete with Hungary's privatized national telecommunications company. By doing so, it will position itself to be the second full services provider once the Hungarian telecommunications market is liberalised. "We are confident that, together with our Hungarian partners, we will build a company that brings a choice in telecommunications services to the Hungarian market", said Paul Smits, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Unisource. In the coming months the parties involved will enter their final negotiations regarding the establishment of the new company. MKM-Tel MKM-Tel is the alternative provider of innovative telecommunications services for Hungarian businesses and professionals. MKM-Tel was founded by three Hungarian parties: MAV MAV Micro-Air Vehicle MAV Municipal Association of Victoria (Australia) MAV Mitarbeitervertretungen (German) MAV Magyar Államvasutak (Hungarian State Railways) , the national railroad company, KFKI KFKI Központi Fizakai Kutató Intézet (Hungary) , a leading information technology company and MOL, the privatised oil and gas company. Both MAV and MOL own telecommunications networks throughout Hungary. MKM-Tel was incorporated to combine these networks. Recognising the need for a close cooperation with an international operator and service provider the aforementioned tender was issued in June. Unisource Unisource NV is a pan-European telecommunications company, created in response to the changing European business environment and customers' requirements for pan-European and global communication services. The company was established in 1992 by Telia of Sweden and PTT (1) (Postal, Telegraph & Telephone) The governmental agency responsible for combined postal, telegraph and telephone services in many European countries. (2) See push-to-talk. PTT - Post, Telephone and Telegraph administration Telecom of the Netherlands. Swisscom of Switzerland became a partner in 1993. In 1994, Unisource gave its pan-European venture a global reach by forming a joint venture with AT&T, called AT&T-Unisource Communications Services. Unisource is also a founding equity partner with AT&T, KDD KDD Knowledge Discovery and Data Mining (International Conference) KDD Knowledge Discovery in Databases KDD Kokusai Denshin Denwa (Japan) KDD Key Distribution Device of Japan and Singapore Telecom of the WorldPartners company. AT&T-Unisource Communications Services is a member of the WorldPartners Association, which today consists of 17 telecom service providers, distributing services in over 30 countries around the world. Unisource shareholders also hold a majority stake in Infonet, whose WorldNetwork data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. services now cover 180 countries world-wide. -0- Note for editors: More information about Unisource is available on http://www.unisource.com and on Newsdesk at http://www.newsdesk.com. CONTACT: Cees Steijger +31 23 569 7902 or Agnita Bok +31 23 569 7901 |
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