OTE to focus on Cosmorom

OTE officials yesterday said the company “is planning to focus on identifying an efficient financial strategy for Cosmorom, its Romanian mobile telephony subsidiary,” according to a Reuters item quoted by Mediafax. Moreover, the Greek company may sell its 20% in Telecom Serbia, if it does not manage to get control over the operator’s mobile telephony division by the end of 2003. OTE shares have taken a descending trend since February, when the company announced a 9.4% drop of net profit for 2002. The company’s plans to invest another 500 million euros on the Romanian mobile telephony market led to a new drop in the share price. Mediafax