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Magyar Telekom shareholder files lawsuit aimed at annulling 2010 AGM resolutions

Another Magyar Telekom minority shareholder has filed a lawsuit against the company, requesting that resolutions 23-81/2010 approved at Magyar Telekom's April 7, 2010 AGM be annulled, the company announced.

Magyar Telekom said that it will vigorously contest the lawsuit, noting that the company has not yet received official notice of the claim.

The lawsuit is not the first legal step against the resolutions at the AGM. On May 20 the Budapest metropolitan court ordered the suspension of the registration proceedings of amended data resulting from the resolutions passed at the AGM into the company register until a final and binding decision is made in the lawsuit initiated by small shareholders in connection with the matter.

Magyar Telekom shareholders approved a proposal to pay a dividend of HUF 77 billion (€278.63 million), including all of the company's 2009 net profit of HUF 74.2 billion and profit reserves of HUF 2.8 billion. The AGM also readopted resolutions taken by the company's 2008 AGM which were later annulled by court. (MTI – Econews)