SEATTLE -- Hungarian Telephone and Cable Corp. (AMEX:HTC) announced today that it has submitted a bid to the Hungarian telecommunications authority for one of Hungary's third-generation mobile licenses. The Hungarian telecommunications authority invited bids for four 3G mobile licenses and has received bids from five companies. The results of the bidding are expected in December.
COMMENT FROM OLE BERTRAM
Commenting on the bid, Ole Bertram, President and Chief Executive Officer of Hungarian Telephone stated, "Adding a 3G wireless license to our upcoming acquisition of PanTel and its nationwide fiber optical backbone network would enable us to offer full service telecommunications solutions to our current and future customer base."
ABOUT HUNGARIAN TELEPHONE AND CABLE CORP.
Hungarian Telephone and Cable Corp. is a provider of telephone, ISDN, Internet and other telecommunications services in the Republic of Hungary. The Company operates nearly 192,000 lines serving over 668,000 people through one Hungarian subsidiary, which has been granted 25-year telecommunications concessions by the Hungarian government in five defined operating regions.
Note: This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These and all forward-looking statements are only predictions or statements of current plans that are constantly under review by the Company. Such statements are qualified by important factors that may cause actual results to differ from those contemplated, including as a result of those factors detailed from time to time in the company's Securities and Exchange Commission filings. The foregoing information should be read in conjunction with the company's filings with the U.S. Securities and Exchange Commission including, but not limited to, reports on Forms 10-K and 10-Q. The company has no obligation to update or revise these forward-looking statements to reflect the occurrence of future events or circumstances.
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