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Magyar Telekom secures EU funds for broadband build-out

magyar telekomDeutsche Telekom-owned Hungarian service provider Magyar Telekom and a group of its subsidiaries have secured EU funding to the tune of HUF12.2 billion (€39.6 million) to develop digital networks delivering internet speeds of at least 30Mbps.

The operator will acquire the funds in two rounds covering the western and eastern parts of Hungary as a result of a tender to develop digital networks covering households in 46 districts. Magyar Telekom said that funds would enable to build out networks to about 111,000 households in areas where no operators have yet provided fixed broadband services or internet access capable of reaching 30Mbps.

Magyar Telekom last year built networks capable of delivering at least 30Mbps to 464,000 homes and this year aims to reach an additional half million homes, again using its own resources. Some 436,000 households of this latest tranche had been built out by the end of August, meaning that the high-speed broadband network is currently available to about 2.6 million homes.

The EU is distributing a total of HUF42.4 billion in funds to assist with the building out of digital networks in Hungary.