Tibor Rékási, the new CEO of Magyar Telekom appointed as of July 1, bought 100,000 of the company's shares on the Budapest Stock Exchange yesterday at an average price of HUF 408.2, the company announced on Thursday.
The deal represented nearly 40% of the daily turnover in Telekom shares, which rose to HUF 411 late on Wednesday as a result.
The deal comes shortly after media reports questioned whether the new CEO had faith in the company, as it turned out he owned only 226 Telekom shares as of Monday.
