"Hungarian mobile carrier Pannon, a unit of Norway’s Telenor will be renamed Telenor, local newswire MTI has learned from market sources on Thursday. Pannon has declined to comment.Pannon GSM Távközlési Zrt. was the first to launch GSM (Global System for Mobile Communications: originally from Groupe Spécial Mobile) mobile services in Hungary in 1994. Pannon is currently 100%-owned by Norway’s Telenor.
This would not be the first name change on the local mobile market. Westel, the first to start offering mobile telephony in Hungary on 15 October 1990, changed its name to T-Mobile in 2004. According to market estimates, this cost the company, a subsidiary of Magyar Telekom, HUF 2-4 billion.
Pannon posted EBITDA (earnings before interest, taxes, depreciation and amortisation) of HUF 73.4 billion in 2009, HUF 3.6 bn less than in 2008. The company’s revenues totalled HUF 177 bn, down HUF 11.3 bn year on year.
Hungary had 11.834 million mobile subscribers in January 2010. Based on total subscriber numbers, Vodafone’s market share was 22.09%, while Pannon was second-biggest (34.68%) and T-Mobile took the lead with 43.23% market share."
Source: Portfolio Online Financial Journal
19.03.2010