Full-year profits plunge 40.7% for Entel

28 May 2009

Bolivia’s state-owned telecoms operator Empresa Nacional de Telecomunicaciones (Entel) has posted net profit of BOB400 million (USD58 million) in its 2008 fiscal year, a steep decline of 40.7% from the BOB674 million reported in 2007, BNamericas reports. Citing reports from local press it was also revealed that revenues at the operator also declined in 2008, falling 4.3% to BOB2.42 billion. A fall in revenues from telecoms services and interconnection was attributed to ‘hidden liabilities’ inherited from the operator’s previous owner Euro Telecom International (ETI), itself owned by Telecom Italia (TI).

Bolivia, Empresa Nacional de Telecomunicaciones (Entel)