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Magyar Telekom calls EGM for December 21

The board of Magyar Telekom Nyrt on Friday called a general meeting for December 21 to approve the company's 2005 report as well as dividend on the year's profits.

The board said an investigation of contracts at its unit in Montenegro, which has delayed approval of the report since the spring, would soon be closed. At the previous EGM of the company on October 9, CEO Elek Straub said the contracts being investigated were worth a combined Ft 1.095 billion, but the investigation has so far cost the company Ft 3.1 billion. He added that he could not say when the investigation would be closed, but promised an announcement would be made as soon as it produces enough information to satisfy the auditor.