Don't Count Out Telsource Yet

Your article "And now, the shareholder manifesto" (International Business, Aug. 5) reported that a Czech court had technically invalidated the entry of TelSource as a strategic partner for SPT Telecom. That statement is incorrect. The court's decision invalidated resolutions taken at a February, 1995, extraordinary general meeting. The entry of TelSource as a strategic partner was approved at the August, 1995, general meeting of SPT Telecom. Although Martin Mosinger filed a lawsuit challenging the August, 1995, general meeting, the court in the case has not yet issued a decision. Accordingly, TelSource remains as the strategic partner, holding a 27% interest in SPT Telecom.

Roland J. Behm

Squire, Sanders & Dempsey

Prague

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