Telekom Austria Group FY11 revenues drop 4.2%; ‘severe macro-economic headwinds’ blamed for slump

Telekom Austria Group has reported consolidated revenues of EUR4.454 billion (USD3.701 billion) for the twelve months ended 31 December 2011, down 4.2% compared to the EUR4.650 billion generated during 2010. The company blames the slump on ‘severe macro-economic headwinds in most of its major markets, fierce competition and further regulatory cuts of roaming and interconnection tariffs’

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OVETEL Telekom Austria Group FY11 revenues drop 4.2%; ‘severe macro-economic headwinds’ blamed for slump