World VoIP NewsONO close to refinancing deal as it returns to profitONO close to refinancing deal as it returns to profit

ONO close to refinancing deal as it returns to profit


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Spanish cableco Grupo Corporativo ONO has revealed that it is close to finalising a deal with lenders that will allow it to restructure EUR3.6 billion (USD4.9 billion) in loans, Bloomberg reports.
The disclosure comes after the operator revealed that it had generated a net profit of EUR50 million in the twelve months to 31 December 2009 compared with a loss of EUR26 million in the same period a year earlier.

Earnings before interest, tax, depreciation and amortisation for the twelve-month period rose 4.2% year-on-year to EUR730 million, although revenue fell 5.6% to EUR1.51 billion. In terms of subscriber numbers, ONO reported that as at end-December 2009 it had 1.67 million fixed line voice subscribers, up from 1.64 million a year earlier.


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