PT has no financial worries says CEO

15 Oct 2008

Portugal Telecom CEO Zeinal Bava says the company is in a comfortable financial position which will enable it to see out the current global economic crisis. A report from Reuters cites Bava as saying: ‘We have EUR1.5 billion in standby facilities and EUR800 million in commercial paper, which sums up to EUR2.3 billion total, and with the cash we have this leaves us very comfortable.’

Portugal