Telekom Slovenije’s deal to be reviewed by minister
www.WirelessFederation.com/news: In order to clarify ‘suspected irregularities’ in the recent share purchases of Macedonia’s Cosmofon and Kosovo’s Ipko by Telekom Slovenije, Slovenian economy minister Matej Lahovnik has proposed to review the merger.
According to Matej, if the incumbent telco’s supervisory board members did not launch a review, the state in its capacity as a majority shareholder would propose an inquiry into the matter at a meeting of Telekom’s shareholders.
He also feels that it is important check the legitimacy of the acquisition of shares of individual minority shareholders,
Cosmote posts better than expected 9M results
OTE’s wireless arm Cosmote has reported a 7.3% increase in net profit for the first nine months of 2006, to EUR273.9 million (USD350 million), beating analysts’ consensus expectations of EUR258.8 million. Revenues climbed 26.2% year-on-year to EUR1.63 billion while EBITDA rose by 12.9% to EUR643.1 million. Of the total turnover, EUR1.22 billion was generated by its Greek operation, up 7% on the same period of 2005. In terms of subscribers, Cosmote Greece claimed over five million subscribers at the end of September, up 11% year-on-year. Outside of its domestic market Cosmote operates in four countries: Albania (via AMC), Bulgaria (Globul), Macedonia (Cosmofon) and Romania (Cosmote). In Bulgaria Cosmote reported strong subscriber additions including a recond number of post-paid additions, while in Macedonia, Cosmofon achieved a positive net income result for the first time.
Source- telegeography Wireless Mobile Telecom
