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Altera launches liquidation procedure against BTel

Telco

Hungaryʼs Altera launched a liquidation procedure today against Business Telecom (BTel) after the troubled company failed to settle invoices, Hungarian news agency MTI reported.

BTelʼs liabilities stood at HUF 9.3 bln, according to the minutes of an extraordinary shareholders meeting on March 20. Bonds accounted for almost HUF 8 bln of that amount.

Magyar Telekom sued BTel earlier for unpaid bills, and a subscriber of the companyʼs corporate bonds has launched a liquidation procedure against it.

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