Oni lowers losses

23 Jul 2007

Portuguese telco Oni Communications has reported a net loss of EUR10.2 million for the first half of 2007, an improvement on the EUR22.8 million loss for the first six months of last year. Total revenues reached EUR79 million, while EBITDA rose from EUR3 million in 1H 2006 to EUR9.5 million in the same period this year. Oni invested EUR6.8 million in the first half of 2007, Telecompaper reports. Oni Communications is in the process of selling its residential and SOHO user business to local rival Sonaecom for EUR25 million (USD33.5 million).

Portugal, Onitelecom (ONI), Optimus (Clix)