State holding in Magyar Telekom rises to 5.08%
The state stake held in Magyar Telekom by state-owned Pension Reform and Debt Reduction Fund has risen to 52,987,673, corresponding to 5.0816% of voting rights, the company announced on the website of the Budapest Stock Exchange late on Tuesday.
The stake held by the fund surpassed the 5% limit requiring an announcement on November 7.
The announcement did not specify the number of shares the state fund held prior the current transaction except that they had been below the 5% limit, and had been acquired as part of the private pension fund portfolio transferred to fund as the assets of former private pension fund members returning to the state pension system early this year.
The current share purchase was a spot transaction and happened in line of the Pension Reform Act which authorizes the Pension Reform and Debt Reduction Fund to carry out transactions in order to protect the value of its assets and to manage and reduce risks.
ADVERTISEMENT
MNB Monetary Council Leaves Base Rate on Hold
Hungarian Lawmakers Ratify Finland's NATO Accession
Bureau Veritas Hungary Becomes Certifying Partner of Access4...
HIPA Awards 'Investors of the Year'
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.
