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.’