Hungarian Antenna Closes Vodafone Stake Sale For HUF19.4 Billion

BUDAPEST -(Dow Jones)- Hungarian radio signal broadcaster Antenna Hungaria Magyar Musorszoro es Radiohirkozlesi Rt. (ANTENNA.BU) said Wednesday it has closed the sale of its stake in the Hungarian unit of Vodafone to parent company Vodafone PLC (VOD), for 19.4 billion forints ($1=HUF188.03).

Antenna has already published information on the Sept. 24 deal but this is the first time the company has disclosed the price. The book value of the 10% stake was HUF17.7 billion.

Antenna will use the extraordinary income to finance certain projects and to lower its debt level, the company said in a release.

The two companies will remain in business contact; Antenna will continue to provide leased line, services and infrastructure for Vodafone Hungary.

Company Web site: http://www.ahrt.hu

-By Margit Feher, Dow Jones Newswires; +361-267-0622; margit.feher@dowjones.com

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Posted to the site on 12th January 2005