GREEK OTE ANNOUNCED 44.7 % DECREASE OF ITS PROFITS IN ARMENIA

YEREVAN, June 1. /Mediamax/. Greek Telecommunications Group (OTE) announced that its net profits in Armenia fell by 44.7% in first quarter of 2001.
OTE owns 90 per cent of shares of ArmenTel Company – the monopolist in the telecommunications sphere of Armenia. The OTE reported the net income of ArmenTel has made 2.1 million Euros in Armenia in the first quarter of 2001.
In March OTE announced 32.2% decrease of its profits in Armenia in 2000. –0–