articles | 15 September 2014

CyTA to enter Greek mobile market

With focus on implementing its growth and value-adding strategy, CyTA has decided to enter the highly competitive mobile telephony market in Greece via its Greek subsidiary, the semi-state telecoms company has announced.

At a news conference, conducted simultaneously in Athens and Nicosia via telepresence, the company presented its latest strategic venture.

While already operating in Greece, offering landline, internet and audiovisual services, CyTA considers the strengthening of its presence with the missing ‘fourth pole’ – namely, mobile telephony – a “normal development and challenge.”

According to Giorgos Koufaris, managing director of CyTA Greece, the venture, which he described as a “primary strategic target,” will be carried out in collaboration with Vodafone and will be made possible due to the support of the Cyprus mother company.

“Over the last ten months, the company has expanded its customer base, elevating its service offering from 2-play to 4-play, offering landline and mobile telephony, television and internet services,” he said.

CyTA Cyprus head Christos Patsalides noted that the company aims to maintain its independent presence in the market.

“CyTA was born 50 years ago in Cyprus, grew strong and has been growing in Greece for six years,” he said. “It now opens a new growth chapter in the field of mobile telephony, thereby adding to its value in favour of the Cyprus economy, society and its employees.”

The basic flat-fee package offered by CyTA ranges from €9 to €13 and includes 100 talking minutes to subscribers of any provider and a further 100 minutes to CyTA subscriptions. According to their needs, CyTA subscribers may opt to incorporate additional talking time, data-plans or text message packages for €5.

At the news conference it was revealed that CyTA has invested €200 million in the Greek market thus far. With regard to its finances, its turnover was deemedstable.

The company’s EBITDA for 2014 remains positive but continues to record negative results. However, it is expected that in 2015 the company will resume positive performance.

Source: Cyprus Mail

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