Trading in NordTelekom shares suspended

MNB

The National Bank of Hungary (MNB) temporarily suspended trading in the shares of Nordtelekom Távközlési Szolgáltató as of today, charging the issuer with failing to meet its reporting obligations, the central bank reported today. MNB also fined the company HUF 5 million.

The central bank said the suspension will remain in effect until Nordtelekom meets its obligation for delivering regular reporting, as bound by law, the MNB added.

According to the central bank, the company failed to prepare a consolidated annual report even though it has a solely owned subsidiary and therefore it classifies as a parent company, Hungarian news agency MTI reported.

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