Business News

Telekom Group Posts EUR 211M Loss in 2010 (I)

Ljubljana, 24 February (STA) - The group around Slovenian telecoms incumbent Telekom Slovenije posted a EUR 211.2m loss last year, which compares to a EUR 29.5m net profit in 2009. The group's operating revenues meanwhile dropped by 1% to EUR 843.6m, Telekom said in a press release on Thursday.

The loss is a consequence of write-downs of investments, primarily in Telekom's subsidiaries in Macedonia and Kosovo, in the total amount of EUR 208.2m, according to the unaudited business report for 2010. The group would have otherwise posted a profit of EUR 15m.

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