Hungary Provides HUF1.3 Billion Support To Vodafone Service Center

BUDAPEST -(Dow Jones)- Vodafone has signed a contract with the Hungarian government to receive 1.3 billion forints ($7.1 million) in support through tax breaks and subsidies for establishing a services center in Budapest, Vodafone Chief Executive John Bond and Hungarian Premier Ferenc Gyurcsany said Wednesday.

The center, estimated to cost HUF9 billion, will employ 746 workers and process Vodafone's financial services and business transactions over 20 countries, Gyurcsany said at a press conference.

Hungary won the bid for the center over 19 other countries, Bond said.

"Vodafone is always looking for attractive business opportunities around the world and indeed in Central and Eastern Europe," Bond said.

-By Julia Szinai, Dow Jones Newswires; +361-267-0622; julia.szinai@dowjones.com

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Posted to the site on 27th June 2007