Magyar Telekom shareholders to convene as investigation goes on
Tuesday, August 15, 2006, 16:36
Magyar Telekom Nyrt, the Hungarian unit of Deutsche Telekom AG, based in Budapest and formerly known as Matáv, said April 26 it postponed a shareholders meeting to approve 2005 earnings and the dividend because of a probe into contracts at its Montenegrin unit.
Quote from the homepage of the bourse as it follows: “Magyar Telekom Nyrt, the leading Hungarian telecommunications service provider announced that at its meeting held yesterday, the Board of Directors (Board) had decided to call the company’s Extraordinary General Meeting. The Board discussed the current status of the previously announced and ongoing investigation into certain contracts and the related circumstances, stating it was not in a position to approve the company’s 2005 annual report at this time. However, it decided to call the company’s Extraordinary General Meeting to inform its shareholders. The timing as well as the agenda of the General Meeting will be announced shortly.
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