Tele2 decides not to publish statements to avoid "reaction" of competitors
MOSCOW. Nov 24 (Interfax) - T2 RTC Holding (Tele2) will not publish reports on its financial and operating results for the third quarter of 2016 and for all of 2016, the Russian mobile service provider's spokesman, Konstantin Prokshin told Interfax.
"Tele2 is an open company, but at the moment there is no need to publish full financial and operating statements on a regular basis. The status of a private company makes it possible not to do this," Prokshin said.
He attributed the decision to not publish results to "unneeded additional risks in key areas" that arise due to the "tough and focused reaction of other market participants."
"Perhaps, subsequently detailed and regular disclosure of statements will continue. Until then, certain company indicators can be disclosed in the statements of Tele2 shareholders," Prokshin said.
Tele2's revenue grew by 14% year-on-year in the third quarter of 2016, business daily Vedomosti reported on Thursday, citing a source among the company's partners. A source close to the company said revenue grew by 14.8%. Tele2's revenue was 23.9 billion rubles in the third quarter of 2015, so revenue totaled 27.3 billion-27.4 billion rubles in the third quarter of this year.
This means that Tele2's revenue growth accelerated from 10.3% in the second quarter and 5.4% in the first quarter.
Tele2 was the only one among Russia's top four mobile operators to increase revenue in the third quarter. It was reported earlier that revenue slumped 1.6% at Vimpelcom , 0.8% at Mobile TeleSystems (MTS) and 0.1% at MegaFon .
Tele2 posted a net loss of almost 2.9 billion rubles in the third quarter, one of the company's shareholders, national telecom provider Rostelecom said earlier.
Tele2's subscriber base stood at 39.5 million at the end of September, up by 11.3% year-on-year and 1.5% from the end of the second quarter of 2016, Vedomosti reported.
Prokshin did not comment on the revenue and subscriber data reported by Vedomosti's sources.