TTG-Europe suspends shares over accounting irregularities

TTG-Europe, the AIM-listed telecommunications company, has asked for its shares to be suspended with immediate effect because of accounting irregularities.

The company made the move after receiving a premliminary report from investigating accountants confirming that there were ‘significant accounting irregularities’ within the Cellular Holdings Group.

TTG-Europe acquired Cellular Holdings Group in 2003. The irregularities are said to date back to the acquisition, and TTG-Europe has given notice of material claims under the acquisition agreement.

Further details are to be made in due course.

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