Telekom Srbija sale boosts OTE profit

OTE telecom appeared satisfied on Thursday with the group?s results in the first quarter of the year, with revenues dropping by 3.6 percent to come to 1.18 billion euros.

That was the smallest decline in the last eight quarters, according to group president Michalis Tsamaz.

EBITDA grew by 6 percent, while net profits soared from 30 million euros to 307 million, thanks to the recent sale of Telekom Srbija.