Bloomberg News

Magyar Telekom Falls for Fourth Day to Record Low on Phone Tax

May 11, 2012

Magyar Telekom Nyrt. (MTELEKOM), the Hungarian unit of Deutsche Telekom AG (DTE), fell for a fourth day to a record low after the company said yesterday a planned new tax on phone calls may have an impact on its dividend.

The stock slid 0.7 percent to 462 forint in Budapest, the lowest closing price since Bloomberg started tracking the stock in 1997. Magyar Telekom lost 5.7 percent this week and is down 11 percent from the end of last year.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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