Press Releases

Magyar Telekom wins award for Best Corporate Governance in Hungary

Budapest, March 11, 2010 09:15

Magyar Telekom won the award for Best Corporate Governance in Hungary, as part of the 2010 Corporate Governance Awards organized by the World Finance magazine.

This award reflects the company's commitment to follow best practices and adhere to high standards of corporate governance. In Hungary, 5 companies were shortlisted for the award and from these, the Award Committee chose Magyar Telekom. World Finance magazine has selected corporations who, despite the difficult monetary climate, have continued to achieve excellent levels of corporate governance, surpassing their minimum requirement levels of disclosure in order to serve the best interests of their investors.

Thilo Kusch, Magyar Telekom's Chief Financial Officer commented, "For Magyar Telekom, a company listed since 1997 both at the New York and the Budapest Stock Exchanges, good corporate governance involves good operational performance in order to create shareholder value along the lines of international regulations and best practices. We are happy that our efforts are acknowledged and we will continue to maintain our well-established communication with shareholders, founded on business ethics and transparency."

World Finance is a leading financial magazine, published in London. The World Finance Corporate Governance Awards recognizes those companies who have reached the very highest levels of excellence in corporate governance. The winners are those who have gone far beyond their formal requirements for international listings and regulatory frameworks, they are fully transparent in their disclosures and have shown best practice when interacting with their shareholders and stakeholders.

More information regarding the awards is available at http://www.worldfinance.com/news/home/awards/article1095.html

About Magyar Telekom
Magyar Telekom is Hungary's largest telecommunication service provider, which offers the full range of telecommunication and info-communication (ICT) services, including fix and mobile phone, data transmission and non-voice, as well s IT and system integration services. The company pursues its business through its two business units: Consumer Services Business Unit (the T-Home brand of services accessed at home and the T-Mobile brand of mobile communication services); Business Services Business Unit (T-Systems brand). Magyar Telekom is majority owner of Makedonski Telekom, the largest fix and mobile service provider of Macedonia, as well as Crnogorski Telekom, Montenegro's largest telecommunication service provider. Magyar Telekom's majority (59.21%) owner is MagyarCom Holding GmbH, which is exclusively owned by Deutsche Telekom AG. Further information is available at www.telekom.hu.