Romtelecom, Cosmote Romania to focus investments on increasing internet speed and digitization of fixed networks

Telecom companies Romtelecom and Cosmote Romania, both part of the OTE group, will focus their investments this year on increasing the internet speed and digitization of fixed networks, according to companies’ representatives. “In 2014, Romtelecom and Cosmote will make investments of around EUR 170 million, mainly in increasing internet speed and digitization of fixed networks, as we previously announced,” according to companies’ officials, quoted by local daily Wallstreet.ro. Cosmote will focus on investments in the 4G network, while Romtelecom’s investments will target developments in the fiber optic network, including the fiber-to-the-home (FTTH), and digitization of fixed networks. According to officials of the two companies, the telecom industry was dominated by the 4G technology and increasing speeds for the 3G network in 2013, and this trend will continue to be important this year as well. Romtelecom recorded revenues of EUR 446 million in the first nine months of 2013, down from EUR 470 million in September 2012. The company’s operational profit was of EUR 17.9 million, also down on the EUR 46.8 million in the first nine months of 2012. Its sister company Cosmote Group, which offers mobile communication, posted a profit of EUR 266 million at nine months, up from EUR 195 million end September 2012. Irina Popescu, irina.popescu@romania-insider.com