Contact:
Newsfox Desk
Phone: + 43 - 1 - 811 40 - 319
E-Mail: editor@newsfox.com
| Pressbox | 
|
Salzburg (pte033/01.04.2003/15:22) - Ailing Salzburg mobile phone service provider EMTS http://www.emtscenter.com has only partially been able to revise its company structure.
EMTS was not able to sell its subsidiaries in Norway and one in Sweden, as well as EMTS Eesti OÜ in Estonia. The firms will therefore either be liquidated or file for bankruptcy.
"The decision will be made this week," said EMTS speaker Karin Kegelvich, speaking to pressetext.europe. The failed sale of the companies has been attributed to an overcapacity in the mobile phone service branch throughout Europe. CEO Christian Rosner confirmed that his company was still searching for strategic partnerships and ways to get a capital increase.
Of the twelve countries in which EMTS has bee active, only four - Germany, Spain, Italy and Denmark - remain core countries. Rosner is convinced this remaining group will provide a solid structure for the next steps and help EMTS come out of the red.
Rosner expects EMTs to achieve a group turnover of 40m euros in 2003 and post positive earnings before interest, taxes, depreciation and amortisation by the second quarter.
The telecommunications crisis and the loss of the contract with Nokia had put the group under pressure in the past year - the partnership with Nokia was responsible for 60 per cent of the group's turnover in the nordic countries.
"We hope the worst is soon over," said Rosner.
(end)
|
|
