The privatization took place on 15 January 2001, when the Government of the Republic of Macedonia and a consortium led by the Hungarian telecommunications provider, Matav, signed a contract for the acquisition of Makedonski Telekomunikacii shares whereby Matav entered Makedonski Telekomunikacii shareholders register as the owner of 51% of the shares and thus became the dominant owner of the company.

On 1 June 2001, a mobile phone provider T-Mobile Macedonia (formerly Mobimak) began functioning as a separate legal entity (daughter company).

As of 1 July, T-Mobile Macedonia ceased to exist as a legal entity, whereas all employees, and the total assets and liabilities were taken over by Makedonski Telekom.

Telekom was the first telecommunications company in the country to introduce 4G LTE, GPRS, EDGE and various converged internet and mobile services.

Taking into consideration that fixed phones are going mostly unnoticed and unused, this allowed Telekom to reduce its maintenance costs for the old analog technology, and provide cheaper and calls through the old medium (most notably unlimited nationwide calls through most of their 2 play and 3 play offers, and some free international call allowances at the highest tiers) Telekom offers a portfolio of Internet protocol-based services, data communications services, equipment sale and lease, and systems integration services.

Modernization of the network infrastructure with the implementation of optical cables up to the end users, known as fiber-to-the-home (FTTH) is one of the main focuses.

By the end of 2012, 88.068 FTTH homes passed, and 12.333 were connected to optic in several major cities such as Skopje, Kumanovo, Stip, Strumica, Ohrid, Gostivar.

[5] In November 2011, Makedonski Telekom started a project for modernization of the network through a new fully internet-based multimedia platform of the new generation.

This platform replaces the existing digital telephone exchanges and is a preparation for the services of the new generation and the unlimited communication possibilities offered by the internet.

[6] The capital investment worth 14 million euros makes North Macedonia the first country in the South-East Europe whose network will be fully based on Internet protocol.

Telekom IPTV was launched in November 2008 branded as MaxTV as the first digital TV offer for customers in the Republic of Macedonia.