Rents cost Telekom Srbija fourth of its value

(Photo: telekom.rs)

Since 2008, Telekom has paid about EUR 172 million in rents for office and storage space and the space housing its telephone exchanges, whereas its total rental costs in the previous 15 years have almost reached EUR 450 million, which is 1.5% of Serbia's gross domestic product (GDP), Dzeletovic told NIN.

He specified that Telekom Srbija's revenue had been dropping by EUR 60 million on average every year in the period 2008-2012, stressing that in the first nine months of 2012, the company's revenue had fallen by only 1 percent.