Magyar Telekom Wins Gigabit Hungary Program Tenders

Magyar Telekom has won tenders in a program to undertake gigabit network investments in 16 counties with around HUF 20.3 billion in European Union funding, the company said on Monday.

Using these non-repayable EU funds, a fiber-optic cable system providing state-of-the-art internet and TV services will reach an additional 118,000 locations. The planning and permitting process has begun, and construction is expected to be completed by the end of 2028. The list of the more than 500 affected municipalities has been published on Magyar Telekom’s website.

According to the announcement, the company’s gigabit-capable optical network is currently used by more than 3.16 million households and businesses. Modern information and communication services strengthen the retention power and competitiveness of rural areas in the long term, they emphasized. Based on previous reports, Magyar Telekom’s 5G coverage relative to the population reached 86 percent in 2025, and the optical network expanded by 250,000 access points last year.

The company is a premium-category issuer on the Budapest Stock Exchange (BÉT); its shares closed at HUF 2,492 on Friday, with their price fluctuating between HUF 1,620 and HUF 2,524 over the past year.