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Revanth Reddy | Congress, TDP, TRS | Political News

"While at T-Mobile Hungary mobile broadband has become the key growth driver fuelling value added service revenue growth, in the fixed line segment growth in internet revenues slowed down significantly and fixed line churn increased further in Q2," CEO Christopher Mattheisen said in a management commentary to the Q2 report. The chief executive's cautious commentary is not surprising in light of the fact that Q2 saw a decline (!) in T-Com Hungary's fixed-line Interenet revenues for the first time in the company's history on strong competition from mobile Internet and cable service providers. The performance of Magyar Telekom's foreign subsidiaries was likewise too weak to generate significant growth in the entire fixed-line division. Consolidated Internet service revenues grew only 6.7% in the first six months of 2008, which compares with 8.3% and 16.4% at Magyar Telekom's Czech and Polish industry peers, respectively. (The picture is actually even gloomier, considering the fact that Q2 alone saw only 4.4% growth.)