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Markets News

OTE Telecom quarterly profit inches up, Romania offsets COVID-19 hit

ATHENS, Nov 12 (Reuters) - OTE Telecom, Greece’s biggest telecoms operator, reported a 0.9% rise in third-quarter core profit on Thursday as strong Romanian operations offset the impact of COVID-19 pandemic at its home market.

OTE Telecom, which is 46% owned and managed by Deutsche Telecom, said core earnings (EBITDA) reached 376 million euros ($443.19 million) in the July-to-September period, up from 372.8 million in the same period last year. ($1 = 0.8484 euros) (Reporting by Angeliki Koutantou)

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