Magyar Telekom Nyrt., the former Hungarian phone monopoly owned by Deutsche Telekom AG, dropped to the lowest in more than a month after a report that it’s seeking acquisition targets.
Magyar Telekom fell as much as 12 forint, or 2 percent, to 594 forint, the lowest since May 15 and traded at 599 forint at 9:43 a.m. in Budapest. Magyar Telekom is seeking more acquisitions in the information technology industry, Vilaggazdasag said today, citing Deputy Chief Executive Officer Istvan Papp.
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