Hungarian operator Magyar Telekom has signed a heads of terms agreement with 4iG for the sale of T-Systems Hungary. Prior to the transaction closing, the small and medium sized enterprise sales business of T-Systems will be carved out and will not be part of the deal.
The parties agreed on the purchase price and the main conditions of the transaction, however, the full details will be binding upon the signing of the final sale and purchase agreement, subject to the due diligence and further negotiations between the parties. After the closing, expected in 2019, the parties will enter into a long-term partnership agreement, under which T-Systems will continue to sell Magyar Telekom's telecom services in the large enterprise and public segments. Also, 4iG shall have the right to use the T-Systems brand in Hungary during a three-year period.
