Jazz reduces losses in 4Q - nice

26 Feb 2003

Jazztel, the Madrid-based telco which provides services in Spain and Portugal, has said its fourth quarter 2002 loss narrowed by half to EUR28.2 million following the implementation of a string of cost-cutting measures. Full year losses were EUR149 million, from a deficit of EUR189 million in 2001. Jazztel handed over control of the company to its creditors last year when it failed to make its debt repayments.