Hungarian Telephone and Cable Corp. (HTCC) has acquired a 95.7% equity interest in the Austrian-based telco Memorex for €30.1 million. According to HTCC, the deal and refinancing of Memorex’s debt is being funded by a loan arranged by Merrill Lynch and BNP Paribas. Memorex is one of the leading alternative providers in Central and Eastern Europe, with interests in (amongst others) Bulgaria, Romania and the Czech Republic. It also has a strong presence in Turkey, and has in total invested around €54 million on its network in the last two years.
