BTel Abandoning Hungary's Telecoms Market
- 5 Jan 2015 8:00 AM
Business Telecom (BTel), which faces liquidity problems and failed to repay a bond expiring in 2014 on time, will gradually leave the telecoms market to concentrate on developing its internet service XPrime through a franchise network, it was decided at an EGM on December 29.
BTel will sell its telecoms client portfolio and networks.
The EGM also approved the capital increase by new owner SkillInvest, issuing new shares for Ft 500 million.
Executives have been authorised to decide on a further capital increase of up to Ft 2 billion, twice as much as earlier.
A new auditor ACT Audit has been appointed. An EGM on January 30 will approve the accounts audited by ACT.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.
LATEST NEWS IN tech