Romania’s macroeconomic outlooks will be challenging in 2011 as
well, just like the competitive climate, stated, during a meeting
with analysts and investors, the managers of Greece’s OTE group,
which owns Romtelecom, Cosmote, Germanos and Zapp companies in
Romania, a business of above 1.3bn euros per year.
“Macroeconomic outlooks for Romania will be, to be honest,
challenging for 2011 as well. Coupled with the competitive climate,
we can say the situation will still be one full of challenges,”
stated Kevin Copp, OTE’s CFO.
Romtelecom posted operating losses of 13.9m euros in the third
quarter of 2010, and revenues dropped by 6.5%, to 181.5m euros amid
austerity measures and rising unemployment. On the other hand, the
company announced a rising number of clients on the Internet and TV
segments, which partially offset the decline of its main business,
fixed telephony.
Romtelecom’s financial results were also impacted by the increasing
costs the company has registered since it launched its own sports
TV stations. Asked whether Romtelecom will register the same level
of TV rights costs, Copp said the operator will further invest in
content. “It’s hard to say whether these charges will be recurrent.
It is clear, though, we will further acquire broadcasting
rights”.
ZF English
OTE CFO: Romtelecom will invest further in TV rights
Romania's macroeconomic outlooks will be challenging in 2011 as well, just like the competitive climate, stated, during a meeting with analysts and investors, the managers of Greece's OTE group, which owns Romtelecom, Cosmote, Germanos and Zapp companies in Romania, a business of above 1.3bn euros per year.