Deutsche Telekom AG

ots Ad hoc-Service: Deutsche Telekom AG Deutsche Telekom acquires SBC\047s stake in Matav

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    Bonn, Budapest(ots Ad hoc-Service) -  Bonn, Budapest, July 3, 2000

    Deutsche Telekom acquires SBC's stake in Matav

    Deutsche Telekom AG will acquire US-based SBC Communications's 50-percent stake in MagyarCom GmbH, the holding company that owns a 59.53 percent interest in Matav. As a result, Deutsche Telekom will acquire the majority stake in Matav. The transaction is valued at approximatly US$ 2.2 billion, based on Matav's share price as of the market's closing on June 30, 2000. This transaction results from SBC/Ameritech having exercised a put option included in the signed contractual agreement between the two shareholders of MagyarCom.

    Deutsche Telekom's stake increase in Matav underscores the company's international strategy concerning its shareholdings in Central and Eastern Europe.

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