The forint-denominated loan with floating interest rate will mature in 2009. The interest rate is 34 basis points above the six-month BUBOR, the rate at which Hungarian banks exchange debt. Other conditions of the loan are similar to those of other loans Matáv took from Deutsche Telekom earlier.

Matáv announced in mid-March that it pays EUR 130.7 million for a 67% stake in Telekom Montenegro. The Hungarian telco made an agreement with the Montenegrin government that it pays EUR 114 million for buying a 51.12% government stake in Telekom Montenegro. At the same time, Matáv made a deal with minority owners to buy 15.97% stake in the Montenegrin telco for EUR 16.7 million.

When announcing the deal, Matáv said it plans to buy other stakes in the company, and made a bid for stakes held by minority owners at a price of EUR 2.20 per share.