Telecoms news from Greece
Greece's OTE has reported a fall in fourth-quarter revenues of 9.1% to EUR1.13 billion (US$1.5 billion), but improved its net loss, which came in at EUR43.7 million (US$57 million) compared to a loss of EUR77 million a year ago. ...more.
The Greek telco, OTE has announced that 1,516 staff have accepted its voluntary redundancy scheme since it was announced last November, exceeding the company's initial target. ...more.
Vodafone Greece says that it has become the first company in Greece to utilise the 900MHz frequency for better 3G coverage. ...more.
Greece's Cosmote says that it has started testing of an LTE network, making it the first in the country to start such trials. ...more.
In the case of Greece and OTE, the country ceiling rating action reflects the heightened risk of a Greek exit from the eurozone which could be accompanied by currency redenomination - which in turn could affect OTE's existing euro-denominated debt. ...more.
The Rating Watch Negative (RWN) reflects OTE's mid-term tight liquidity profile in the absence of a tangible refinancing plan for the company's upcoming maturities in 2013. ...more.
Vodafone's CEO, Vittorio Colao has reaffirmed the company's commitment to the Greek market, where it recently cancelled merger talks with rival network Wind Hellas. ...more.
Progress continues to be made towards a near-term sovereign debt restructuring in Greece. The protracted nature of negotiations has, however, raised the question of what would happen to the domestic telecoms sector ...more.
Vodafone Group has confirmed that it is moving spare cash out of its Greek subsidiary every evening, in case the government defaults or decides to withdraw from the Euro currency. ...more.
Vodafone has walked away from talks to buy the Greek mobile network, Wind Hellas. Talks were initiated last August. ...more.
Greece based OTE has announced the sale of its 20% stake in Telecom Serbia for EUR380 million. OTE will additionally receive a minimum dividend of EUR17 million for fiscal year 2011. ...more.
Greek telco, OTE is looking to sell its 20% stake in the Serbian telco, Telekom Srbija back to the country's government in an effort to reduce its own debt as the local economy contracts. ...more.
In a Special Comment published today, Moody's Investors Service says that the refinancing challenges of rated European telecoms operators and service providers are likely to be manageable through 2015, but that refinancing risks are not spread evenly across the sector. ...more.
Greece's telecoms regulator says that it has completed the auction for radio spectrum after just one day of bidding. ...more.
The European Commission has requested Greece to adopt legislation to make it easier for telecom operators to install facilities such as ducts, manholes, masts or antennae on, over or under public or private property. ...more.
In a short statement, the Greek telecoms regulator, the EETT has confirmed that the country's three mobile networks have applied to renew their existing GSM licenses. ...more.
Employees at the Greek telco, Hellenic Telecommunications Organization (OTE) have agreed to take an 11 percent wage cut in exchange for the company cancelling job cuts that had been planned based on cost cutting measures. ...more.
Prosecutors in Greece have filed charges against persons unknown in the telecoms spying scandal that hit the country in 2004 and may have resulted in the death of a Vodafone employee. ...more.
Following on from yesterday's report that Vodafone was looking to buy Greek mobile network, Wind Hellas, the company has confirmed that talks are under way. ...more.
Vodafone is reportedly close to buying the Greek mobile network, Wind Hellas Telecommunications for around US$1.5 billion. ...more.