LISBON May 15 Portugal Telecom (PT)
posted on Thursday a first-quarter net loss after a year-ago
profit, hit by foreign exchange losses and extraordinary costs
of its tie-up with Brazil's Oi.
PT's net loss totalled 15 million euros while a year ago it
had a profit of 27 million euros. Revenues dropped almost 4
percent to 690 million euros, the company said, while earnings
before interest, taxes, depreciation and amortization (EBITDA)
dropped 3.7 percent to 279 million euros.
PT is in the process of combining assets with Brazil's
wireless and fixed-line carrier Grupo Oi, in which it
holds a large stake, to form a new company with more than 100
(Reporting By Andrei Khalip)