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Court annuls Magyar Telekom AGM's 2008 resolutions

A court of first instance annulled resolutions, with the exception of one procedural resolution, that the AGM of Hungarian telecommunications company Magyar Telecom passed on April 25, 2008, Magyar Telekom announced on the website of the Budapest Stock Exchange.

Magyar Telekom said that it will appeal the ruling, which the company believes is unfounded.

Two of Magyar Telekom's minority shareholders filed a lawsuit against the company on May 23, 2008 demanding that resolutions passed at the Magyar Telekom AGM in April of that year, including that regarding the payment of dividends, be annulled.

The company has already paid its shareholders the HUF 74 per share dividend stipulated at its April 2008 AGM. (MTI – Econews)