Magyar Telekom To Deregister US Securities
November 14 2011 - 9:35AM
Dow Jones News
Magyar Telekom (MTELEKOM.BU), the Hungarian unit of Germany's
Deutsche Telekom (DTE.XE) Monday, said it will seek to terminate
its U.S. registration in a filing with the U.S. Securities and
Exchange Commission.
MAIN FACTS:
- The company expects the deregistration to become effective on
Feb 12, 2012, 90 days after the filing.
- Magyar Telekom said the main purpose of the deregistration is
to reduce complexity in financial reporting and administrative
costs.
- The company said it will maintain its primary listing on the
Budapest Stock Exchange and will continue to make English
translations of its annual reports, financial statements and
investor releases.
-Budapest Bureau, Dow Jones Newswires, +36-1-267-0622;
budapest@dowjones.com
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