The Telekom Group, which consists of the former Cosmote and Romtelecom, in 2018 accumulated RON785 million losses, more than half of the top 30 losses of the local industry, even though its losses shrank compared with 2017. The Telekom Group is now up for sale and the most determined suitor seems to be French-held Orange, which has been looking for a solution to its lack of landline communications infrastructure to reach retail customers’ homes for years.
Seconds worst net loss of 2018, RON250 million, was cable TV service provider UPC’s, which is now past the up-for-sale stage, having already been acquired by UK’s Vodafone. Vodafone, too, needed a fixed network for its Romanian subsidiary. UPC’s previous owner was US’ Liberty Global.
The top loss-makers also include, besides the ailing companies, some of those which are expanding and making massive investments to gain market share, such as Dante International (eMAG) and Orange Money – the financial service company of mobile telephony operator Orange.
(English version by Loredana Fratila-Cristescu)