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November 22, 2019
BUSINESS

Deutsche Telekom Group not satisfied with operations in Romania

Germany’s Deutsche Telekom Group is not satisfied with the performance of its divisions in Romania, Poland and the Netherlands, Deutsche Telekom CEO Tim Hoettges stated on Thursday, Reuters informs, being quoted by Agerpres.
Deutsche Telekom controls 40 per cent of Hellenic Telecommunications Organization (OTE), which in turn controls 54.01 per cent of Telekom Romania. The Telekom Romania brand has been present on the Romanian market since 2014, following the joint rebranding of Romtelecom and Cosmote Romania.
“In what concerns our portfolio, we are talking about the activities in Netherlands, Romania and Poland where we are not satisfied with the performances registered,” Tim Hoettges stated at a conference with analysts.
Nevertheless, a Deutsche Telekom spokesperson emphasized that this does not mean that the German group is mulling possible sales.
OTE reported on Thursday a 5.7 per cent drop in its operational profit in Q3, to EUR 350.1 M, because of significant competition in Romania and lower revenues obtained by its mobile telephony division in Greece. In what concerns Telekom Romania, the company reported a 3.3 per cent drop in revenues, to EUR 442.7 M at nine months, while in Q3 its revenues stood at EUR 143.5 M, down by 5.2 per cent year-on-year.

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