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Magyar Telekom Telecommunications Plc. ADR (MYTAY)

- OTCPK - Current
  • Nov. 8, 2013, 9:49 AM
    • Hungarian operator Magyar Telekom (MYTAY -2.4%) shares fall after MSCI said it will remove the telco from its emerging-markets index on Nov. 26.
    • Local firm KBC Securities estimates investors may sell as many as 17.3M shares (1.7% of shares outstanding) as a result of the removal.
    • Investors are also concerned that Magyar may cut its dividend from 50 forint to 20 later this year.
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Company Description
Magyar Telekom Telecommunications has three operating segments; fixed line telecommunications, mobile telecommunications and international activities. The Fixed line telecommunications segment provides local telephony in Co.'s 39 local primary areas, domestic and international long distance... More