ECONOMY

Cosmote among biggest investors in Romania

Greece’s largest mobile phone company, Cosmote, ranked last year among Romania’s most active foreign companies based on annual investment activity, despite a cut in capital spending. Figures provided by the Romanian government on investments made by foreign companies in 2008 placed Cosmote’s Romanian subsidiary in fourth place after investing almost 90 million euros, mostly in upgrading its network. The figure stood at 201 million euros in 2007. Topping the Romanian list was energy group E.On Gaz Romania SA followed by mobile phone operator Telemobil and Credit Europe Bank.