31 Octombrie 2008

CEO Orange: Business growth will be gripped by economic meltdown in Romania

Richard Moat, chief executive officer with Orange Romania says the business growth on the domestic market will be affected by the international context, as it was spread to all industry sectors.

“We are still having good results, but this year’s growth rate pulled back pace due to regulations on roaming tariffs cut. The latter forecasts of Romania’s economic growth for next year indicate a deepening downslide trend, compared to 2008, which will inevitably hurt the growth of our business as it happens in most sectors of the industry”, Richard Moat stated.

Orange Romania’s revenues rose 8% in first nine months, to 977 million euros, while number of clients climbed 9.6% to 10.2 million users, the local market being one of the most profitable for Orange group.

European Commissioner for Information Society and Media, Viviane Reding has warned recently that global financial crisis may hit new telecommunication operators harder than the established firms, arguing against calls for lighter regulation of the industry.

“Big companies by themselves have a lot of means to invest...but in these times it is much more difficult for new entrant”, said Reding.

Translated by Camelia Oancea

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