Mobile telecom Centertel in the red, plans to double subscribers base

Mobile telecom company PTK Centertel, owned by Telekomunikacja Polska S.A. (TP SA) and France Telecom, expects its earnings before interest, tax and amortization (EBITA) to reach zl.-100 million this year. The loss is mainly a result of heavy investments, totaling zl.1 billion. The company is also likely to close 2001 with a loss, as it has ambitious plans of doubling the subscriber base of its GSM network Idea, from 1.5 million to 3 million. The company still has some distance to catch up with its competitors, Plus GSM and Era GSM, which have 2.4 and 2.64 million subscribers, respectively. According to Centertel's Chief Financial Officer Grzegorz Mozdyniewicz, the company expects its revenues to reach zl.1.6 billion this year and zl.2.5 billion in 2001. (Puls Biznesu, p.10, Prawo i Gospodarka, p.1, Reuters) A.D.