Investor Releases
Magyar Telekom gives notice on the extension of the Hungarian government investigation related to the ongoing internal investigation
Budapest, September 22, 2009 08:00
Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian
telecommunications service provider, announces the extension of the
investigation by the Hungarian National Bureau of Investigation.
As disclosed by
Magyar Telekom on March 31, 2009, the Hungarian National Bureau of
Investigation (“NBI”) launched a criminal investigation into alleged
misappropriation of funds relating to payments made in connection with the
Company’s ongoing internal investigation into certain contracts entered into by
members of the Magyar Telekom Group and related matters. On September 21, 2009, the NBI informed the
Company that it had extended the scope of its investigation to examine possible
misuse of personal data of employees in the context of the internal
investigation.
The Company is
cooperating with the NBI investigation. The Company
cannot predict the outcome or timing of the NBI investigation. The Company cannot predict the potential
impact, if any, the NBI investigation may have on the Company or its financial
statements; nor can the Company predict the impact, if any, the NBI
investigation may have on its ongoing internal investigation or the other
governmental investigations.
In addition, as
previously stated by the Company, the Company cannot predict when the internal
investigation or any of the ongoing governmental investigations will be
concluded, what the final outcome of those investigations may be, or the
impact, if any, they may have on its financial statements or results of
operations. Government authorities could seek criminal or civil sanctions,
including monetary penalties, against it or its affiliates, as well as additional
changes to its business practices and compliance programs.
This investor news contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Report on Form 20-F for the year ended December 31, 2008 filed with the U.S. Securities and Exchange Commission.