Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

Magyar Telekom Nyrt. and MET Holding AG intend to establish a 50/50 joint venture for the retail sales of electricity and natural gas primarily to small/medium sized enterprises in Hungary.

Magyar Telekom is a company primarily active in the provision of telecommunications services in Hungary. It is 59% owned by Deutsche Telekom and its remaining shares are traded on the Budapest Stock Exchange or as American Depositary Shares in the U.S. OTC securities market. Magyar Telekom provides fixed line and mobile communications services for residential and small/medium business customers under the Telekom brand and corporate services provided to enterprise customers under the T-Systems brand. Magyar Telekom is the Hungarian market leader in fixed line voice, broadband, pay TV and mobile voice, mobile broadband and IT/SI markets. In addition to Magyar Telekom’s core activities as a provider of complex telecommunications and IT services it is also a retail energy supplier providing electricity and natural gas services for end user customers, supplying residential customers and non-residential customers.

MET Group, a group of undertakings solely owned by the holding company MET Holding is active in the European market, among other fields, in the trading, wholesale and retail sales of natural gas, electricity, oil and other oil products. MET Group is present in fourteen national gas markets and 13 European gas hubs. MET Group is engaged in the retail sale of natural gas in Hungary, Slovakia, Romania and Croatia, and in the retail sale of electricity in Hungary, Romania and Croatia. In Hungary, MET Group is engaged in the wholesale and retail sales of natural gas and electricity, as well as in the generation of electricity.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.