The company has announced the confirmation of Janor Winkler's appointment as CEO of TMH. Mr. Winkler will be head of Magyar Telekom's Mobile business, TMH, and deputy managing director of Magyar Telekom, after completion of the fixed and mobile merger at the end of 1Q06. Mr. Winkler has been the Chief of Sales and Marketing Officer at TMH since 1996, and was instrumental in the successful rebranding from Westel to T-Mobile in 2004. We view the news as neutral and reiterate our Buy recommendation on Mtelekom.