The consortium owners of start-up mobile operator MPVI Mobil – state interests Magyar Posta, Hungarian Electricity Works (MVM) and Hungarian Development Bank (MFB) – have raised the company’s capital by HUF14.1 billion (USD62.6 million) through non-cash contributions, Econews reports. The majority state-owned company was established with registered capital of HUF500 million in April, which has now been raised to more than HUF14.6 billion via the capital increase which took place last month.*MPVI Mobil won the premium ‘A block’ of frequencies in an auction at the end of January, suitable for both internet and voice services, paying HUF10 billion, while Hungary’s three incumbent cellcos each secured spectrum from parts of the ‘B block’, which is better suited to provide mobile internet access in rural parts of the country.
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OVETEL New cellco MPVI raises USD62.6m new capital, as court decision looms
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