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Topic: Cosmorom

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In the News (Tue 10 Nov 09)

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	Athens News
		Cosmorom has only 2-3 percent of the mobile sector and debts of 190 million euros.
		In July, OTE's chief executive officer Lefteris Antonakopoulos said it was hanging up on Cosmorom and this was followed later in the year by a decision not to invest any more money in the debt-ridden entity.
		Back in May, there were rumours that Cosmorom's assets might be sold to existing players dominating the Romanian market such as France Telecom's Orange, or local success story, Zapp, but nothing materialised.
	www.athensnews.gr /athweb/nathens.prnt_article?e=C&f=13045&t=03&m=A40&aa=3 (363 words)

	Usbiz
		A decision about the future of CosmoRom, the mobile telephony division of RomTelecom, will be made by September 2003, Lefteris Antonacopoulos, chairman of Greek telecom group OTE said.
		OTE's shareholders are scheduled to convene for a general meeting on June 30 and primarily debate the future of the mobile telephony operator in Romania.
		Also in 2002, CosmoRom posted 131.2 million euro net losses, while operating revenues were worth 15.4 million euros, as highlighted in OTE's annual report.
	www.usbiz.ro /digit/show-news.php3?id=11896 (414 words)

	Emerging Markets Economic Briefings (Site not responding. Last check: 2007-11-06)
		These were that the company must first facilitate the access of other operators to its network and reduce tariffs on long distance calls by a minimum of 10%.
		This was hardly good news for the company as it prepared for an emergency shareholders meeting to discuss the future of Cosmorom.
		Cosmorom's operating revenues for the three months ended September 30, 2003 amounted to EUR2.3m, while net loss amounted to EUR7.4m.
	www.oxfordbusinessgroup.com /weekly01.asp?id=736 (1061 words)

	Athens News
		The Romanian government itself is keen to relaunch CosmoRom, the minister said.
		CosmoRom, which has debts of some 190 million euros, is the smallest operator on the market, with a market share in the low single-digit range.
		The notion that there is a small window of opportunity for CosmoRom's relaunch is perhaps putting the seriousness of the situation mildly - barely visible slither of light in a world dominated by two giants would be more accurate.
	www.athensnews.gr /athweb/nathens.prnt_article?e=C&f=13114&t=03&m=A19&aa=1 (908 words)

	Window to Romania - Romanian Lebanese News Daily weird quirky and odd news,science & technology news from all over the ... (Site not responding. Last check: 2007-11-06)
		The possible involvement of the Greek operator in the CosmoRom shareholding structure, after the latter reported losses of close to ROL 7,500 bln over the past five years, would be part of CosmOTE’s policy targeting consolidation in the Balkan region.
		EUR 500 M investments, yet the solution is risky with the specialised Romanian market already dominated by Orange and Connex and the mobile telephony coverage rate reaching close to 50 per cent of the total population.
		CosmoRom launched operations in 2000, and in late 2004 it had 87,488 customers and a market share below two per cent.
	windowtoromania.org /fnews.asp?nc=2&fnwcod=4299 (332 words)

	The game must go on - CosmoSport (Site not responding. Last check: 2007-11-06)
		The first step in this programme was made by Cosmorom which sponsors the foundation for purchasing medical equipment for strictly emergency.
		"COSMOROM is a company which understands the social responsability it carries and this is why it supports projects of this kind.
		A decision was made from Romtelecom Group of Companies for common participation at this year's edition of CERF exhibition and in parallel, COSMOROM decided to support this "SOS Sport" programme with an important amount of money.
	www.cosmosport.ro /en/press.htm (528 words)

	Capital Link Greece \| Investing In Greece
		Furthermore, all of COSMOROM's liabilities, except for liabilities to OTE International up to euros 16 million and third party liabilities up to euros 2 million will be capitalized or written-off by the completion date of the transaction.
		COSMOROM, the 3rd GSM operator in the Romanian mobile market, whose activities have been limited over the last few years, holds a GSM license, which is anticipated to be modified to include the right to use frequencies in both EGSM 900 and GSM 1800 MHz frequency band.
		The project of relaunching COSMOROM has been thoroughly examined and planned, and though we do not underestimate the difficulties, we are confident that it is going to succeed".
	www.capitallinkgreece.com /english/corporate_announcements/upcoming2.php?id=30165 (532 words)

	Emerging Markets Economic Briefings (Site not responding. Last check: 2007-11-06)
		Meanwhile, all the signs seem to indicate that OTE's wireless division Cosmote, which acquired CosmoRom, is serious about the re-launch and is determined to push ahead with its wider strategic goal of creating a pan-Balkan mobile phone company that would capitalise on Greece's good economic ties in the region.
		Also on the positive side, analysts say there is still room for growth, because the number of mobile phone subscribers is projected to rise from 11.6m in 2004 to 15.3m in 2009.
		In urban areas, for instance, the people who are like to buy CosmoRom SIM cards, according to market watchers, are the so-called 'beepers' and network jumpers, who use all the different networks to minimise their costs.
	www.oxfordbusinessgroup.com /weekly01.asp?id=1399 (1186 words)

	Southeast Europe Online
		When a company starts looking for an adviser to oversee the sale of its subsidiary, it is a sure signal that it is serious about finding a buyer, reports Athens News.
		OTE's Romanian subsidiary, Romtelecom, is to mandate an adviser to evaluate the possible sale of Cosmorom, the company stated on January 19.
		Cosmorom needs an investment of up to 150 million euros in order to become competitive, but last year OTE ruled out any further cash being pumped into what, in OTE's case, has turned out to be a money drainer rather than a gold mine.
	www.southeasteurope.org /subpage.php?sub_site=2&id=10803&head=if&site=7 (794 words)

	seeurope.net :: View Story (Site not responding. Last check: 2007-11-06)
		Cosmorom reported operational revenues of 2.3 M EUR and losses of 7.4 M EUR.
		One of the major problems facing the operator is an outstanding debt of over 100 M USD, to which late payment penalties are added, to Greek company Intracom, its main supplier of equipment.
		Cosmorom share capital is standing at ROL 3,597.5bn.
	www.seeurope.net /en/Story.php?StoryID=48192&LangID=1 (269 words)

	Supplementary services offered by COSMOROM (Site not responding. Last check: 2007-11-06)
		To send / receive a fax message, you need your COSMOROM handset or a GSM fixed terminal to be connected to: a laptop equipped with a PCMCIA data card, or to a PC equipped with fax board, or to an ordinary fax terminal (fax group 3).
		To use the fax service, COSMOROM will assign you an additional number on the same SIM card which allows you to receive fax messages on your mobile phone.
		Cosmorom S.A. 61 Nicolae Caramfil Str, Sector 1, Bucharest ROMANIA
	www.cosmorom.com /siteen/net_services.html (2280 words)

	Romania Needs More Time For CosmoRom Decision
		Nagy's statement brings a further delay to settling the fate of debt-ridden CosmoRom, which is jointly controlled by OTE and the Romanian state.
		CosmoRom's total liabilities stand at around EUR190 million, and media quoted unnamed OTE officials last year saying that CosmoRom might need around EUR400 million over a three-year period for its relaunch.
		CosmoRom has some 87,000 customers and reported operating revenues of EUR1.6 million, and a net loss of EUR6.2 million in the third quarter of last year.
	www.cellular-news.com /story/11673.shtml (1066 words)

	[No title] (Site not responding. Last check: 2007-11-06)
		Cosmorom will be an investment worth 500 million dollars, during the first stage being spent 40 million dollars, and another 20 million dollars will be added for installing aerials and for erecting civil buildings, RomTelecom General Manager Vassillios Tsakoniatis declared for Mediafax.
		The contract is for a period of 3 years, to be developed in various stages with the aim of gradually covering the entire territory of Romania.
		At the beginning, the Cosmorom network will be accessible in three localities, respectively Bucharest, Brasov and Constanta, as well as on the roads between them; but according to the board of RomTelecom, by 2002 the service will have complete national coverage.
	www.romanian-daily.ro /2000FEB/RED316.html (7968 words)

	British Business Community
		Cosmorom ranks third on the Romanian mobile telephony market, after MobiFon and MobilRom.
		The President in OTE International, George Scarpellis, considers that the lack of financing is responsible for the low market share reached by Cosmorom (below 5%).
		The Greek-based OTE Group is shareholder in Cosmorom.
	www.ukbiz.ro /mnb/index.php3?day=20&month=12&year=2001 (341 words)

	@rgumente » General » Mobifon's mother company interested in Cosmorom
		It's just now that I read about this even though it looks like it's been a last-week piece of news: last July TIW made on offer for Cosmorom - Romtelecom's mobile arm owned by the Greek OTE.
		Cosmorom is still in an uncertain mode anyways that is why I haven't followed up on it in a while.
		The funny thing is that the Greeks rejected the offer and made a counter-offer for acquiring Mobifon - TIW characterized it as "unconvincing".
	www.argumente.ro /general/0659728826/index_html?view=flat&pid=0 (273 words)

	Cosmote To Invest Over EUR450 Million To Revamp Cosmorom
		Cosmorom has only 90,000 customers in Romania, but the country's current mobile phone penetration rate of 52% - compared with 107% in Greece - gives the operator enough room to grow, Martigopoulos said.
		Cosmorom will have to compete in Romania with MobiFon SA and Orange Romania SA, which together have some 5 million customers.
		Cosmorom will cooperate in Romania with Romtelecom, which is majority owned by Greece's Hellenic Telecommunications Organization (OTE).
	www.cellular-news.com /story/14179.php (1150 words)

	BusinesRomania.com - Cosmote To Buy 70% Stake In Cosmorom
		Cosmote will pay EUR 120 million ($150 million) for new shares in Cosmorom to gain the controlling stake, the Athens-based company said in a statement.
		Cosmorom's debts of about EUR 200 million have been written off or settled.
		The Greek company wants to increase sales from international units to as much as 25 percent of total revenue by 2007 from 8 percent last year.
	www.businessromania.com /index.php?x=readnews&sid=6442 (246 words)

	@rgumente » Business » Cosmorom follow up (Site not responding. Last check: 2007-11-06)
		Quick facts as a reminder: Cosmorom has operating losses of about EUR 7m, and declining market share of about 85000 customers in a 9 mil.
		According to Dan Nica, the Romanian communications minister, Cosmorom needs between 100 million and 150 million euros to extend its coverage from 53% to 80-85% of the country to match rival networks.
		CosmoRom needs much more than E150m to have a good coverage to compete with GSM90 operators.
	www.argumente.ro /business/3763084968 (309 words)

	World IT Report - COSMOTE Group announces forthcoming relaunch of Romanian mobile operator
		Evangelos Martigopoulos, stated that COSMOROM’s goal is to become a key player in the Romanian telecommunications market and an attractive proposal to all stakeholders.
		Based on the successful Greek model, COSMOROM will follow the same customer centric philosophy with the aim to provide innovative services of the highest quality at competitive prices as well as the roll out of an advanced telecoms network at record time to secure seamless services to the entire Romanian population.
		For this purpose, COSMOROM has built up a dynamic, flexible core management team consisting of highly skilled executives from Romania and Greece.
	www.worlditreport.com /News/COSMOTE_Group_announces_forthcoming_relaunch_of_Romanian_mobile_operator.htm (515 words)

	Cosmoté plans EUR450 million shake-up at Cosmorom: CommsUpdate : TeleGeography Research
		The GSM operator is the smallest cellco in Romania, with 84,500 customers at the end of June 2005, but Cosmoté claims that the country's cellular penetration rate – near to 50% compared to over 100% in Greece – gives it enough room to grow.
		RomTelecom, which retains a 30% interest in the cellco, has stated that the capital raised by the sale will be poured back into Cosmorom's network development.
		Cosmorom competes with market leader Orange Romania, with 5.72 million subscribers at end-June, MobiFon (5.25 million subscribers) and CDMA provider TeleMobile (Zapp) (300,000 subs).
	www.telegeography.com /cu/article.php?article_id=9205&email=html (258 words)

	Global Communications Newsletter/September 2005
		Cosmorom, 100 percent owned by Rom Telecom (54 percent owned by OTE), was the first GSM-1800 Romanian operator, launched commercially in March 2000.
		At the end of 2004 Cosmorom had some 80,000 subscribers, less than a 1 percent market share in a 10 million users market [2].
		The Greek mobile operator CosmOTE is to take a majority stake (70 percent) in the ailing CosmoRom from fixed line carrier Romtelecom and will relaunch operations within 2005.
	www.comsoc.org /pubs/gcn/gcn0905.html (1848 words)

	ClearStation : News Articles : OTE
		Following in-depth evaluation of the case, the Board of Directors has resolved not to invest any funds in the company," OTE said in a statement.
		Last month, OTE asked its mobile subsidiary Cosmote ((COSr.AT)) to look into Cosmorom in a bid to find a solution for Cosmorom, which has debts of 190 million euros and a market of less than 2 percent.
		In July, OTE said it was considering shutting down the operator and keeping the Romanian mobile licence, a suggestion rebuffed by the Romanian government.
	clearstation.etrade.com /cgi-bin/bbs?post_id=4847171 (183 words)

	Global Communications Newsletter/March 2004
		Behind the success of GSM900 operators is the presence of international players in the shareholders structure: Orange in Orange Romania, Vodafone and TIW in Connex.
		CosmoRom had some 80,000 mobile users in mid-2003, its historical maximum being some 110,000 in 2001.
		All these are due to the lack of a strategic partner with experience in mobile telephony and competitive markets, able to rise funds in international markets.
	www.comsoc.org /dl/gcn/gcn0304.html (2377 words)

	REPORTER.GR (Site not responding. Last check: 2007-11-06)
		FY05 sales growth is maintained at 13%-15% with no material contribution expected from Cosmorom.
		Given their previous forecasts and management’s fresh guidance, dilution in EBITDA margin is expected small (1ppt) though capex is also not expected significantly higher.
		However, EPS dilution is higher (average 8%) since Cosmorom is expected to be loss making in the next 3-years, given the necessary start up costs.
	www.reporter.gr /fulltext_eng.cfm?id=50601125031 (255 words)

	seeurope.net :: View Story (Site not responding. Last check: 2007-11-06)
		The vigour of the Romanian mobile telephony market is proven by the high coverage rate, which specialists expect to reach 60 per cent by end-2005, as opposed to other European states where it did not exceed a 35 per cent ceiling.
		On the other hand, the current major shareholder in Cosmorom, CosmOTE, intends to upturn the mobile operator by year end.
		The Cosmorom upturn will be possible if the operator’s services incur costs lower than average current market costs, which in principle would lead to a fall in tariffs charged in the local market.
	www.seeurope.net /en/Story.php?StoryID=55631&LangID=1 (464 words)

	Business Wire: OTE Statement Regarding Cosmorom
		Nethertheless, OTE sought to facilitate the process of negotiations between Intracom SA and Cosmorom SA in order for them to reach an amicable settlement of the dispute, which would take into account Cosmorom SA's financial condition and ability to make payment.
		At the conclusion of the meeting on 9 September 2003, Intracom SA representatives advised the participants that it wished to commence arbitration proceedings before the International Chamber of Commerce against Cosmorom SA as provided in the contract between the Union of Suppliers and Cosmorom SA.
		OTE regrets that Cosmorom SA and Intracom SA have been unable to reach an amicable settlement at this stage and wishes that negotiations continue towards that end."
	www.findarticles.com /p/articles/mi_m0EIN/is_2003_Sept_10/ai_107527911 (498 words)

	INTRACOM S.A. - News, Press Releases, Events and Sponsorships (Site not responding. Last check: 2007-11-06)
		In consequence of the aforesaid agreement, Intracom and Intrarom have further agreed to withdraw the ICC arbitration they commenced on 28 November 2003 against Cosmorom, Romtelecom, OTEI and OTE, and Cosmorom has agreed to withdraw the counterclaim it has raised in the context of that arbitration against Intracom, Intrarom and Ericsson.
		The settlement reached is without admission as to liability on the part of Romtelecom or any other Party for the alleged obligations of Cosmorom.
		In addition, under the settlement, Ericsson will receive € 6.8 million (six million eight hundred thousand Euro) to be paid in three instalments on the same dates in amounts of 2.4 million, 2.4 million and 2 million Euro respectively.
	www.intrasoft.gr /en/news/announcements/announcements2005/2005_7_8.htm (166 words)

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