Polska Telefonia Cyfrowa, Era GSM operator, is looking up

Polska Telefonia Cyfrowa (PTC), Era GSM operator, announced on Tuesday that it recorded third quarter net profits of zl. 36.8 million, compared to zl. 64.5 million in losses year-on-year. As a result, at the end of the first three-quarters, losses fell to zl.105.9 million from zl.194 million in the same period last year. PTC's improved performance is the result of increasing income and reduced costs for acquiring new clients. The company 's officials say PTC wants to take a euro 650 million loan and has even signed a letter of intent with Deutsche Bank (DB), Dresdner Klienwort Benson, and the European Bank for Reconstruction and Development (EBRD). (Gazeta Wyborcza, p.22)