Entel ends fiscal year’08 with 40.7% drop on net profits (Bolivia)

www.WirelessFederation.com/news: Entel, the Bolivian telco, has reported net profits of BOB400 million (USD58 million) in its 2008 fiscal year, a steep fall of 40.7% from the BOB674 million reported in 2007.
According to the local media, the revenues for the operator dropped in 2008, a fall of 4.3% to BOB2.42 billion. A fall in revenues from telecoms services and interconnection was driven by ‘hidden liabilities’ inherited from the operator’s previous owner Euro Telecom International (ETI), owned by Telecom Italia (TI).