BH Telecom supervisory board annulled

12 Jan 2009

Just over a month after Bosnian telco BH Telecoms finally announced the election of a supervisory board Limun.hr is reporting that the appointments have been annulled. The Bosnia and Herzegovina Securities Commission is understood to have made the decision as a result of what it claimed were violations of the legal procedure relating to shareholder’s meetings. As a result the supervisory board for state-owned BH Telecom will need to be re-elected. The initial announcement that the board had been elected was itself contested. TeleGeography reported in December that small shareholders in the telco announced they would sue the operator, claiming one member of the board had been elected as the shareholder representative on the votes of state representatives, rather than elected by shareholders themselves.

Bosnia and Herzegovina, BH Telecom,

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