Magyar Telecom B.V. and Matel Holdings Limited Announce Receipt of Shareholder Consents

LONDON--()--Magyar Telecom B.V. (“Matel B.V.”) and Matel Holdings Limited (“Matel Holdings”) announced today that the requisite shareholder consents have been received in the matter of the sale (“Proposed Sale”) of its holdings in the Invitel Group to the China CEE Investment Co-operation Fund, advised by CEE Equity Partners.

Matel B.V. and Matel Holdings solicited consents related to the Proposed Sale from holders (“Unitholders”) of the stapled units of Matel Holdings shares and Matel B.V.’s senior secured notes due June 2018. The consent solicitation, launched concurrently with the Proposed Sale’s January 13th announcement, has successfully closed. Over 117 million votes were received, representing just under 84% of eligible votes. Over 114 million were votes in favour, with just under 3 million against. Consequently, Unitholders have approved the Proposed Sale, with almost 82% of eligible votes in favour.

As originally announced, the Proposed Sale is estimated to complete in the second half of February, upon Competition Authority approval. Completion may occur earlier or later, depending upon the competition approval timing. Upon completion of the Proposed Sale, Matel B.V. will redeem the Senior Secured Notes, distribute the net transaction proceeds to shareholders and wind itself up. Distributions to Unitholders will be made as soon as practical after completion.

ABOUT MAGYAR TELECOM B.V.

Magyar Telecom B.V. is the holding company for the Invitel Group, a leading Hungarian infrastructure-based telco and IT service provider. Matel B.V.’s holdings in the group are the subject of the Proposed Sale: Invitel Zrt., Invitech Solutions Zrt., Invitel Central Services Zrt. (each 99.991487%) and Invitel Technocom Kft. (100%).

Invitel Zrt. offers a broad portfolio of services for residential and small business customers, including a variety of multimedia and entertainment services such as interactive, digital and High Definition television, fast internet offerings and telephony services across its regional networks. Invitech Solutions Zrt. is an IT, datacenter and telco provider to 6,000 midsize, enterprise, government and wholesale customers nationwide. Invitech Solutions Zrt. has network in all top 100 cities in Hungary, has a 9000-kilometer national backbone network with 11 border-crossing points and operates six high-spec data centers.

Contacts

MAGYAR TELECOM B.V.
Ákos Balogh
Chief Financial Officer, Invitel Group
phone +36 1 801 1655
investorrelations@magyartelecom.com

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Release Summary

Magyar Telecom B.V. and Matel Holdings Limited Announce Receipt of Shareholder Consents

Magyar Telecom B.V.