Hungarian unit of Dutch info and communications technology company Getronics withdrew from a tender to build an electronic toll system in Hungary because a competitor pressured its sub-contractors, it said on Saturday.
Our view:
The saga continues and now we are back to our original expectation, that MTEL might have a chance to win this contract (could increase MTEL's 2013 revenues by approximately 9%, while in later years the sales contribution will be modest at HUF 1-2bn per annum). We expect slight positive reaction.