Editing Magyar Telekom (section)

=== Early years ===
On 31 December 1989, after becoming one of the three sections of the Hungarian Post service area, the Hungarian Telecommunications Company (Matáv) was founded, as telecommunications operator Magyar Telecom Rt. The company was wholly owned by the state until the end of 1993, but became privatized after the Telecommunications Act came into effect 1 July 1993.  In 1993, 30.1% ownership of Matáv was purchased by Deutsche Telekom and [[Ameritech]] International telecommunications companies, under the new name, MagyarCom Consortium.<ref>{{Cite web |title=Company History |url=https://www.telekom.hu/about_us/about_magyar_telekom/company_history |access-date=23 June 2020 |website= |language=hu}}</ref> During the privatization process MagyarCom acquired a majority stake of the company, under a contract signed on 22 December 1995. The effect of the two companies forming a [[consortium]] was Central and Eastern Europe's largest [[privatization]], and also the largest foreign investment in Hungary.<ref>{{Cite book|url=https://www.ebrd.com/downloads/legal/telecomms/private.pdf|title=Linking privatization and regulatory reform|publisher=David M. Eisenberg, Partner, White & Case*}}</ref>