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Mid Europa Partners and GMT Communications exit Hungary's Invitel

Posted Tue, 09/01/2007 - 01:00

GMT Communications Partners, Mid Europa Partners and the senior management sold their share capital of Matel Holdings N.V., owner of Invitel Távközlési, Hungary’s second largest fixed line telecoms operator, to Hungarian Telephone & Cable Corp. (HTCC).

Invitel Távközlési ZRt.(www.invitel.hu)
Invitel is the incumbent fixed telecommunications services provider in its historical concession areas, with covers approximately 1.4 million people, representing 14% of Hungary’s population. Invitel also provides fixed telecommunications services as an alternative operator in the remainder of Hungary, through its network covering 16 major urban centres.

GMT and Mid Europa acquired Invitel in May 2003 from Vivdeni Telecom International S.A.

GMT Communications Partners (www.gmtpartners.com)
GMT Communications Partners is Europe’s largest independent private equity group focused exclusively on the communications sector, having actively invested in the European marketplace for the past decade.

GMT’s founders created the first pan-European fund focused on the media and telecommunications sector, Baring Communications Equity, in 1992 with the backing of investment bank ING Barings.

Mid Europa Partners (www.mideuropa.com)
Mid Europa Partners is a leading private equity firm in Central and Eastern Europe. Operating from London, Budapest and Warsaw, Mid Europa Partners advises and manages funds with committed capital in excess of € 2.2 billion.

Mid Europa Partners seeks to take controlling stakes in its investments, either on its own or working alongside other financial or strategic partners. The Company invests € 25 million to € 200 million in companies with enterprise values ranging from € 100 million to € 1.5 billion that are cash-flow generative and have dominant market positions in sectors with high barriers to entry.

Mid Europa Partners is the investment manager to Emerging Europe Convergence Fund II, L.P., whose fund manager and general partner is EMP Europe Management (CI), L.P.