Press Releases
General Meeting of MakTel decides on share buyback
Budapest, May 30, 2006 09:00
The General Meeting of MakTel authorized the management of the company to buy a maximum of 10% of the shares of MakTel from the Government of the Republic of Macedonia.
The Macedonian Government has announced that it plans to sell its 45%
stake in Makedonski Telekommunikacii AD (MakTel). Due to the interest
of Magyar Telekom in increasing its influence in the company, the
General Meeting of MakTel authorized the management to buy a maximum of
10% of the shares from the Government. The exact size of the stake and
the acquisition price will be announced once the agreement has been
concluded with the Government.
Magyar Telekom currently owns 51% of MakTel through its subsidiary
Stonebridge Communications AD, while the Government of the Republic of
Macedonia has 47.12% and IFC 1.88% in the company.