Romtelecom, one of the largest companies on the Romanian market, has registered a net increase in the number of fixed telephony clients for the first time in the last three years. The operator expects to end the year with over three million clients, even though forecasts at the start of the year indicated a decline in the company's client base, to fewer than 2.7 million users. "This year's results exceeded our expectations. We have preserved our client base of over 3 million people for fixed telephones, while the initial target was much smaller. According to our business plan, we expected to reach less than 2.7 million clients," Yorgos Ioannidis, CEO of Romtelecom, told ZF. The last increase registered by Romtelecom on the fixed telephony segment had been posted in December 2004. Since then, the company has been losing clients on its main business segment quarter after quarter- in total 1.3 million clients over the last three years. After one of the steepest plunges in the number of clients (over 230,000 in December 2006) the Greek group OTE, the majority shareholder of Romtelecom and Cosmote, appointed Ioannidis as CEO of Romtelecom, replacing the American James Hubley before his contract expired.
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