Hungary’s Magyar Telekom disclosed that its Board of Directors have decided to cancel trading of its American Depositary Shares (ADSs) on the London Stock Exchange (LSE) with effect from 30 December 2021. A statement reads: ‘The main reason for the cancellation is the very low liquidity and trading volume of the ADSs in recent years. The cancellation does not affect the Company’s American Depositary Receipt programme on a Level I basis which remains unchanged.’
Magyar Telekom – majority-owned by Deutsche Telekom – has around 40% of its shares in free float, with its main listing on the Budapest Stock Exchange.