Hungary's Matav Changes NameHungary's Matav Changes Name
Matáv Group to change its name to Magyar Telekom Group
May 4, 2005
BUDAPEST -- Hungary's biggest rebranding operation ever will be implemented within a few days: Matáv Group will change its name. The new company name of Matáv Rt. will be Magyar Telekom, and its business lines will adopt the international T-brands: T-Com (formerly Matáv Wireline Services Line of Business), T-Online (formerly Axelero), T-Mobile, T-Systems (formerly Matáv Business Services Line of Business) and T-Kábel (formerly MatávkábelTV). The rebranding will give fresh impetus to every member of the group in product development and customer service.
On February 22, 2005 the Annual General Meeting approved the decision of the Board of Directors taken on January 20 on changing the name of Matáv to Magyar Telekom and on adoption of the full range of the T-brands. So Hungary's biggest single rebranding operation ever can be carried out within a few days, pending the registration of the name change by the registration court.
The years of close cooperation between the Magyar Telekom Group and its parent Deutsche Telekom (DT) will deepen further with the introduction of the new T-brands in Hungary. Closer integration with the DT Group will offer opportunities for sharing international know-how and experience and engaging in joint development. The resulting benefits will be enjoyed by the customers.
Dr. Karl-Gerhard Eick, Deutsche Telekom's Management Board member responsible for Finance and in charge of Central and Eastern European subsidiaries said: 'The "T"'-brand visually sums up the value generated by our international corporate group - customers recognize it clearly and associate it with clear promises of quality and performance. The "T" is a brand of excellence, a symbol worldwide for quality, innovation and efficiency. Magyar Telekom will profit from this brand value while enhancing it further. I have no doubt about that.'
The T-brand stands for top-of-the-class telecommunications services and superior quality in all the markets where the representatives of the T-brand are present. This name change and rebranding is part of an overall renewal process also in the case of the Magyar Telekom Group and, besides the introduction of several new services and innovative solutions, it is a good opportunity for the group also to change its "interior" and improve its customer service.
"The rebranding may dynamize the wireline business. Through standard quality and efficient customer service it will be easier to retain the old customers and win new ones. Our goal is to offer our customers even more state-of-the-art services of higher quality, better value for their price which are simple and comfortable to use. Uniquely in the Hungarian telecommunications market the T-brand represents the entire communications portfolio because there is no telecommunications service in Hungary the Magyar Telekom Group cannot provide," said Elek Straub, Chairman and Chief Executive Officer of Magyar Telekom.
In addition to the above, it is considered a key objective that the group's already high-level and recognized social contribution and sponsorship role further strengthen in the future. Thanks to the rebranding, new dimensions will open in sponsoring, too; we will be able to appear in outstanding international events (e.g. the 2006 Football World Cup in Germany). However, the local nature of the sponsoring and donation activity will be maintained and local initiatives will continue to constitute the backbone of our support activities.
Elek Straub stressed: "The Hungarian Telekom Group, as part of the international DT Group, will remain Hungary's leading telecommunication service provider. Our primary objective remains the satisfaction of the requirements of the domestic customers. The new brands will inherit the strengths of the business lines whose name they bear, and will be enriched by additional values."
Magyar Tavkozlesi RT
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