Romtelecom prepares for listing by reducing prices

This measure is part of a strategy by the operator to make the company more efficient and reduce costs for the company’s possible listing on the Bucharest Stock Exchange.

"In 2008, we will transform the way we carry out our business, focusing on profitable growth and to becoming market leader in terms of quality of services," said Yorgos Ioannidis, CEO Romtelecom.

The two trade unions to which 11,800 employees belong have been informed about this measure. Employees will receive compensation depending on how long they have worked for the company.

Romtelecom is controlled by Greek group OTE since 1998, and was the only fixed phone operator in Romania until 2003, at which time the market was liberalized.