Press Releases

Budapest, May 31, 2012 17:30

Magyar Telekom announces that, in the lawsuit relating to the resolutions of the general meeting held on April 7, 2010, the Curia (i.e., the Supreme Court of Hungary) upheld the final judgment rejecting the minority shareholder plaintiffs’ claim.

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; subsequently, in its final judgment, 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. The minority shareholder plaintiffs submitted a request for judicial review against the final judgment, requesting, as an extraordinary remedy, that the Curia annul the final judgment of the Metropolitan Court of Appeal.

On May 30, 2012, the Company took delivery of the judgment of the Curia as the judicial review court, in which the Curia upheld the final judgment rejecting the minority shareholder plaintiffs’ claim, as requested by the Company. No appeal or further judicial review is available against this judgment of the Curia.