GREECE: Telecoms giant OTE set to report Q3 profit drop

OTE, Greece's biggest telecoms group, is expected to announce a drop in third quarter profit, weighed by recession in its markets and cuts in regulated prices for cell phone calls.
Analysts polled by Reuters are forecasting a third-quarter net profit of 92.4 million euros ($118.3 million), down from 104.4 million in the same period last year.
OTE, 40% owned by Germany's Deutsche Telekom, has been hit badly over the past two years by the economic austerity in its two biggest markets, Greece and Romania.
Revenue is estimated to have fallen by 8.7% year-on-year in the third quarter, to around 1.2 billion euros.
The company's share price has gained 27% so far this year, compared with a 23% increase in the Athens bourse's general index.