RomTelecom revenues fall says Citi Group

Romania’s dominant wireline operator, RomTelecom, has reported a 5% drop in revenues for 2007 at EUR849 million (USD1.16 billion). EBITDA was down 8% at EUR310 million, according to figures from Citi Group cited by the Business Standard. The falls are attributed to declining usage in the telco’s core fixed line business. Citi Group is predicting further falls in revenue and EBITDA in 2008 and 2009. RomTelecom is part-owned by OTE of Greece.