Fastweb cuts losses

Italy’s second largest broadband operator Fastweb reduced its net loss to EUR11 million (USD17 million) in the first quarter of 2008, from EUR20.7 million a year earlier. In the quarter, sales rose to EUR389.3 million from EUR353.9 million year-on-year, EBITDA increased to EUR112.5 million from EUR86.1 million. The company added 75,000 clients in the quarter, bringing the total at the end of March to 1,387,600 compared with 1,150,400 a year earlier.