Press Releases

Budapest, May 31, 2011 17:15

Magyar Telekom informs its shareholders that the Metropolitan Court of Appeal upheld on the merits the first instance judgment rejecting the minority shareholder plaintiffs' claim regarding the resolutions passed by the general meeting held on April 7, 2010.

As previously disclosed, two Hungarian minority shareholders filed a lawsuit against the Company on May 6, 2010, requesting the Court to render ineffective the resolutions passed by the general meeting of the Company held on April 7, 2010. The Metropolitan Court dismissed the claim in its first instance judgment announced on October 29, 2010.
The minority shareholder plaintiffs submitted an appeal against the first instance judgment and requested that the first instance judgment be annulled or reversed.

In its final judgment announced on May 31, 2011, the Metropolitan Court of Appeal upheld on the merits the first instance judgment, as requested by the Company. Accordingly, the judgment rejecting the minority shareholder plaintiffs' claim became binding. This judgment of the Metropolitan Court of Appeal is non-appealable.