Budapest,December 17, 201515:30

Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB), the leading Hungarian telecommunications service provider, announces that it has signed an agreement to sell its 100% shareholding in Origo Zrt. ('Origo') to New Wave Media Kft., for a total consideration of approximately EUR 13.2 million (ca. HUF 4.2 billion). The transaction closing is expected in the first quarter of 2016.

This transaction is in line with Magyar Telekom's increased strategic focus on its core business and on further strengthening its free cash flow generation. Whilst Origo has played an important role in establishing Magyar Telekom's presence in the online media market since 1998, the company generated an operating loss of HUF 0.4 billion and HUF 0.3 billion in 2013 and 2014, respectively. Origo's net sales revenues for 2013 and 2014 amounted to HUF 3.8 billion and HUF 5.0 billion, respectively.

The transaction is not subject to competition authority approval and certain business activities (such as Clickshop and other minor activities) will be excluded from the deal.

This investor news may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Reports for the year ended December 31, 2014 available on our website at http://www.telekom.hu.

Magyar Telekom Nyrt. issued this content on 2015-12-17 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-17 14:40:55 UTC

Original Document: http://www.telekom.hu/about_us/investor_relations/investor_news/2015/december_17_2