LONDON--(BUSINESS WIRE)--Magyar Telecom B.V. (the “Company”) is announcing today several changes to its Board of Directors.
Matel Holdings Limited, which holds 49% of the Company’s shares, has appointed Mr. András Piller as a new Director of Magyar Telecom B.V. Mr. Nelson-Smith is succeeding Mr. Nikolaus Bethlen as Chairman. Mr. Bethlen will continue to serve on the Board as Director, alongside Mr. Tas Tobiás and Mr. Jan Vorstermans. Mr. Thierry Baudon and Mr. David Blunck (Management Director) have both stepped down from the Board. Mr. Blunck remains Chief Executive Officer of Invitel, the Company’s operating subsidiary.
The Company is also announcing the extension of the stapling period of the Company’s Senior Secured Notes due 2018 (“Notes”) and EquityCo shares (“Shares”) by one year to December 12, 2016. The Notes and Shares have traded together as a Unit (Regulation S: Common Code 098587918 / ISIN XS0985879187, Rule 144A: Common Code 098587926 / ISIN XS0985879260) since 2013. The Notes and Shares will continue to be transferrable only as a Unit until December 12, 2016, unless an earlier destapling event occurs.
The Matel Holding Director nominations and the stapling extension were each approved by holders of a majority in aggregate principal amount of the Units.
ANDRÁS PILLER BIO
Mr. András Piller has extensive experience in the telecommunications sector, most recently assuming temporary CEO responsibilities at Baltcom (LV), Latvia’s leading cable television operator, where he had also worked in 2011-2012. Between 2012 and 2014, Mr. Piller was CEO at Antenna Hungária Zrt, a leading Hungarian TV and radio broadcasting company. Mr. Piller has also held roles in FN Cable holding, T-Kábel Ltd. (previously Matávkábel TV Ltd.), Hungarian RTL Television Co. (RTL Klub), Westel Radiotelephone Ltd. and Unicbank (now Raiffeisen Bank). Mr. Piller attended the University of Economic Sciences, Budapest Faculty.
ABOUT MAGYAR TELECOM B.V.
Magyar Telecom B.V., through its subsidiary Invitel, is one of the leading service providers in the Hungarian telecommunications market, offering a broad portfolio of services for residential and business customers.
Residential products include a variety of multimedia and entertainment services such as interactive, digital and High Definition television, fast internet offerings and telephony services. Business solutions include the most up-to-date ICT and cloud-based IT solutions, in addition to voice and data services, all using Invitel’s nationwide fiber-optic backbone network. Invitel is headquartered in Budaörs, with customer touch points throughout Hungary.