OTE Telecom Core Profit Down 2.6 Percent, Romania Hurts

Greece’s biggest telecoms operator OTE posted a 2.6 percent drop in fourth-quarter core profit as weakness in Romania more than offset growth in its home market.

The former national monopoly, which is 45 percent owned and managed by Germany’sDeutsche Telekom, reported earnings before interest, tax, depreciation and amortization (EBITDA) of 325.2 million euros ($369.30 million) compared to 333.8 million euros in the same quarter a year earlier.—Nasdaq