• MT sold its Budapest headquarters as part of extended portfolio re-jig.

Magyar Telekom offloads property portfolio

Magyar Telekom offloads property portfolio

Source: Guiseppe Romano / Flickr (CC BY 2.0)

Magyar Telekom (MT) continued to sell off portions of its property portfolio. Among the latest to go is the NatCo’s Budapest headquarters, with an expected cash inflow of HUF 3.7bn (€11.1m) when it closes the sale, expected in early‑2020. This was followed shortly by news MT had sold its Telekom Hotel Balatonkenese for HUF 3.3bn. MT is making efforts to sell older buildings as part of a cost-saving and portfolio rationalisation exercise (Deutsche Telekomwatch, #77). The programme saw MT’s 2018 relocation to TelekomHQ, a purpose-built facility in Budapest.