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PODGORICA (Montenegro), February 13 (SeeNews) – Montenegrin telecommunications company Crnogorski Telekom [MNG:TECG] said it plans to cut its capital by 17.1 million euro ($23.2 million) to 123.8 million euro by lowering the nominal value of its shares.
Following the capital cut, the company’s equity will be divided into 47,273,940 ordinary shares with par value of 2.62 euro each, down from the current 2.98 euro, Crnogorski Telekom said in a statement.
The company’s shareholders will vote on the proposal on March 5.
Crnogorski Telekom is part of Hungary's Magyar Telekom.