BTel shares to be suspended Friday

Telco

Trade in the shares and corporate bonds of Business Telecom (BTel) will be suspended from 1 p.m. on Friday, December 19, pending an extraordinary announcement by the company, according to a resolution by the Budapest Stock Exchange's chief executive published after the market closed on Thursday. 

The troubled telco was placed under interim management early in December, a month after it was announced an angel investor would inject HUF 950 mln in the company. Magyar Telekom is suing BTel for HUF 944 mln in unpaid bills, and a subscriber of the company's corporate bonds has launched a liquidation procedure against it.

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