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Article: Interfax Hungary Business Daily.(Company overview)
- Article from:
- Hungary Business Report Daily
- Article date:
- March 7, 2007
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COMPANY NEWS
Hungarian IT group Econet acquires majority stake in EMG Media group for HUF 1.2 bln
BUDAPEST. MARCH 7. INTERFAX CENTRAL EUROPE - Hungarian IT and telecommunications group Econet.hu announced on Wednesday that it has expanded its operations by acquiring the EMG Media group, which operates a portfolio of various online and offline media outlets, for HUF 1.2 bln.
"Econet signed an agreement Wednesday to acquire a 70% majority stake in EMG for HUF 1.2 bln, and also secured an option to acquire the remaining 30% within five years," the company announced in a statement.
Econet said it paid the consideration for the 70% stake ...