Magyar Telekom to reconvene EGM on November 6


Magyar Telekom Nyrt announced on Wednesday it will continue on November 6 an extraordinary general meeting of shareholders suspended on October 9.

On the agenda for the meeting are appointments to the boards. The October meeting was suspended before shareholders could vote on management appointments because more time was required to prepare for the changes considering amendments to the company charter.
Magyar Telekom earlier announced it would convene an EGM on November 15 to approve the 2005 financial report and decide on paying dividend. The report may only be produced, however, if an investigation into contracts at Magyar Telekom's unit in Montenegro is completed.
After the AGM on October 9, Magyar Telekom said it had still not closed the investigation, which has delayed the payment of shareholders' dividend since spring. It also noted that, during the course of the investigation, Magyar Telekom's auditors had discovered two more contracts which did not appear in the books in addition to the two contracts which were the reason for the investigation. The contracts being investigated were worth a combined Ft 1.095 billion. The investigation has so far cost the company Ft 3.1 billion.


SMEs Augur Higher Sales, Profit Next Year Analysis

SMEs Augur Higher Sales, Profit Next Year

Hungary, Poland Diverging in Views of Russia Int’l Relations

Hungary, Poland Diverging in Views of Russia

EC Clears Acquisition of Dunaferr by Liberty Steel Deals

EC Clears Acquisition of Dunaferr by Liberty Steel

Celebrating Music Music

Celebrating Music


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.