Shareholders to file for management intervention at BH Telecom

13 Jan 2009

Following reports earlier this week that the supervisory board of BH Telecom had been annulled, Limun.hr is reporting that the Shareholder’s Association of BH (UDAU BH) is planning to file a petition requesting that management of the telco be taken over by the state prosecutor’s office. UDAU is understood to be preparing the move amid claims that it would protect state interest in the telco. Commenting on the situation Rizah Softic, UDAU’s president, said, ‘The state has 90% (of) BH Telecom, and we want prosecutors to enter the company, because there is no more authority there.’ The Bosnia and Herzegovina Securities Commission maintains that there had been procedural oversights in the appointment of the supervisory board in December 2008.

Bosnia and Herzegovina, BH Telecom,

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