Croatian Wireless Operator Tele2 9-Mo Negative EBITDA Widens by 2.8% Y/Y

The operations in Croatia continued to develop according to plan, adding 74,000 customers in third quarter of 2008, partly driven by summer tourists, the parent company said in a statement.

Tele2 Croatia had 49,000 customers at the same period a year earlier.

Tele2 Croatia's negative earnings before interest and tax (EBIT) rose to 315 million crowns from January to September 2008 from 290 million crowns at the same period a year earlier.

Net sales for the first nine months of 2008 rose to 590 million crowns from 387 million crowns in 2007.

Tele2 entered the Croatian market in late 2005 as the country's third mobile operator. On the Croatian wireless phone market Tele2 competes with Vipnet, a subsidiary of Austria's Mobilkom, and T-Mobile, majority owned by Deutsche Telekom.

(1 euro = 10.0316 Swedish crown)