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BRIEF-Magyar Telekom to sell majority stake in Crnogorski Telekom to Hrvatski Telekom
January 10, 2017 / 10:19 AM / 8 months ago

BRIEF-Magyar Telekom to sell majority stake in Crnogorski Telekom to Hrvatski Telekom

Jan 10 (Reuters) - Magyar Telekom Tavkozlesi Nyrt

* Magyar Telekom says to sell majority stake in Crnogorski Telekom to Hrvatski Telekom

* Will sell its 76.53 percent stake in Crnogorski Telekom for EUR 123.5 million - statement

* Transaction to support dividend policy by accelerating reduction in net debt ratio - Magyar Telekom

* By end of March 2017, net debt ratio to be within the targeted range of 30-40 percent set out in dividend policy

* Transaction expected to close by end of January 2017

* Magyar Telekom reduces 2017 revenue guidance to HUF 560-570 billion from HUF 585-595 billion

* Also reduces EBITDA guidance to HUF 181-185 bln from HUF 189-193 bln Source text for Eikon: Budapest Stock Exchange Further company coverage: (Reporting by Krisztina Than)

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