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 Tuesday, 02 December 2008

OTE, Greece largest telecoms firm, posts a rise of 30% to $260.4 million in net proft in the third quarter attributed to a strong performance in its mobile phone units. The revenues increase to 0.7% to euro1.64 billion from euro1.63 billion in the third quarter of 2007. OTE chairman and CEO Panagis Vourloumis said strong results in the mobile phone sector more than offset a gmediocreh performance in fixed-line revenues in Greece. The company said, OTE expects 2009 profits to gat least matchh this yearfs, despite the global economic crisis. The Greek Government and Deutsche Telekom smacked a deal in May on sharing OTE ownership and management control. Greecefs parliament has approved the deal in June, the government and Deutsche Telekom each control 25 % plus one share of OTE.

Source: Wireless Federation.