The difficult economic period Greece is going through will nothurt OTE and implicitly Romtelecom, a company 54% owned by theGreek group, maintains Yorgos Ioannidis, general manager of theoperator. The Romanian telecom market will stabilise this year, andRomtelecom's revenues are expected to rise. "We have cash and we'llmake further investments just like during previous years. Asregards revenues, we expect a better performance than last year,"Ioannidis added. Whilst Greece's 12.7% budgetary deficit will notbe felt in the Greek operator's business, Romania's 7.2% one madean impact on Romtelecom's 2009 revenues, with the company posting a7% decline, to 808m euros, amid a 20% smaller telecom market. Yet,2010 will not come with a similar decline, but rather withstabilisation. For this year, cost optimisation seems to bestdescribe Romtelecom's strategy. The company plans investments toexpand optical fibre infrastructure nationwide, and it also intendsto launch a new store concept.
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