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Bourse fines BTel for HUF 3 mln

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The Budapest Stock Exchange yesterday said it fined Business Telecom (BTel) HUF 3 mln in connection with infractions related to disclosure regulations and paying of fees. The BSE also requested the issuer to comply fully and on-time in future with disclosure regulations and to immediately settle its debt towards the bourse.

The BSE fine came shortly after the National Bank of Hungary, in its role as financial market regulator, the MNB fined BTel HUF 3.5m for failing to comply with disclosure regulations. About 10 days ago, the Budapest Stock Exchange's chief executive said he decided to remove BTel's shares from the bourse's main BUX and BUMIX index because of the shortfalls.

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