Deutsche Telekom will build out a national broadband network in Hungary over the next couple of years via its Magyar Telekom subsidiary, it emerged on Friday.
The German incumbent, majority owner of Magyar Telekom, has signed a cooperation deal with the Hungarian government to roll out a network that will provide broadband access to every household by 2018, Reuters reported. The state and the EU will also contribute funding to the project.
The newswire quoted Deutsche Telekom CEO Timotheus Hottges as saying that the company will invest "several hundred billion forints" in Hungary over the coming years.
At current exchange rates, 100 billion forints is around €300 million.
"Within the right regulatory framework, a framework that also includes government and EU support for underdeveloped areas, we are willing and able to develop high-speed broadband Internet access for all Hungarians," Hottges reportedly told a news conference.
The network rollout will include fixed and mobile technologies.