Romania's macroeconomic outlooks will be challenging in 2011 aswell, just like the competitive climate, stated, during a meetingwith analysts and investors, the managers of Greece's OTE group,which owns Romtelecom, Cosmote, Germanos and Zapp companies inRomania, 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 thirdquarter of 2010, and revenues dropped by 6.5%, to 181.5m euros amidausterity measures and rising unemployment. On the other hand, thecompany announced a rising number of clients on the Internet and TVsegments, which partially offset the decline of its main business,fixed telephony.
Romtelecom's financial results were also impacted by the increasingcosts the company has registered since it launched its own sportsTV stations. Asked whether Romtelecom will register the same levelof TV rights costs, Copp said the operator will further invest incontent. "It's hard to say whether these charges will be recurrent.It is clear, though, we will further acquire broadcastingrights".
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