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Magyar Posta (Hungarian Post) was split into three separate enterprises. On 31 December 1991, the company was re-structured as a public limited company as Magyar Távközlési Rt.. On 1 July 1993, the Telecommunications Act came into effect, making it possible to privatize the company. The company remained 100% state owned until the end of 1993. At this point, a consortium was formed between Deutsche Telekom and Ameritech,

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