Netia telecom to fight with TP giant

29-08-2008, 15:24

The listed telecom which has recently acquired Tele2 will now successfully compete with TP, the market leader. Shareholders will sooner see the company generate income while clients will sooner get a better offer.

Netia used to be one of the hottest stock on the Warsaw Stock Exchange in the past. Now, however, its stock trades 97.4 percent lower than on its IPO eight years ago and investors are not much interested in the shares. However, the company is restructuring, its management has ambitious plans and several good ideas. In addition, the company has bought Tele2 with 720,000 voice clients and 15,000 broadband internet clients.

“We are growing into a rival of TP telecom, a rival playing in the same league. This is a new situation, quite a revolutionary for the market”, Miroslaw Godlewski, Netia CEO said.

This is good news for shareholders.

“By acquiring Tele2, we have reached the number of voice clients we wanted to have in 2011. We will be able to generate net income earlier than planned”, Miroslaw Godlewski added.

Before, the company promised net income in 2011. Two weeks ago, Netia raised its forecast of sales by PLN 10-25m (EUR 2.9-7.4m) from PLN 950m before.

Clients should also be satisfied.

“We will be able to offer more services. Thanks to better profitability, we will be able to build our offer without certain limits. I cannot give details but we will change as fast as today”, the CEO added.

Netia wants to become MVNO operator at the end of September and beginning of October.

(PLN 1 = EUR 0.298)

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