The Hungarian telco Invitel has obtained a grant of HUF1.95 billion (€6.35 million) from the European Union.
BBJ reports the funding will be used to expand the company’s broadband network in around 100 settlements, increasing download speeds to a minimum of 30Mbps.
Quoting Invitel’s CEO David Blunk, it adds that the company is committed to providing fast internet connections and digital TV and willing to offer them in areas where they were previously not available.
As of the end of last year, Invitel provided broadband internet services to 600,000 customers.
Meanwhile, the most recently published data by the regulator NMHH shows that Invitel claimed a 4.7% share of the Hungarian pay-TV market as of the end of this July.
