German fixed network operator Versatel Communications has announced it generated revenue of EUR631.2 million (USD833 million) for the year ended 31 December 2011, down 12.9% from EUR724.7 million in 2010. The company attributed the drop to a 20.1% year-on-year fall in sales from its wholesale segment to EUR189.6 million, due to a reduction in mobile termination rates (MTRs), as well as one-off revenues of EUR8 million from long-term finance leases recognised in 2010
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OVETEL Versatel revenue down 13% on lower wholesale, mass market sales
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