The interim management will be in charge of daily operations at the company and they have been authorized to conduct talks with BTel’s business partners. The board decided to hire an external auditor to review the company’s books back to the start of 2013.
They also decided to prohibit the signing of any contracts or invoices generating liabilities without the consent of Timur Rahimkulov, an angel investor who is injecting HUF 950 mln into the company in exchange for equity that carries a veto right. Magyar Telekom is suing BTel for HUF 944 mln in unpaid bills, and a subscriber of the company’s corporate bonds has launched a liquidation procedure against the company.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
