MNB orders BTel to comply with disclosure requirements

Competition

The National Bank of Hungary (MNB) today ordered Business Telecom (BTel) to comply with disclosure rules with regard to online press reports on the company yesterday, Hungarian news agency MTI reported.

The Budapest Stock Exchange (BSE) said BTel, one of its service providers, was having technical problems on Wednesday. Late in the day, the company told MTI that full service had been restored following a power outage.

The MNB said today that the company must make an extraordinary announcement either denying or confirming the reports immediately, or within one working day at the latest. If it confirms the reports, BTel must also detail the resulting changes, the central bank and market watchdog added.

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