Telekom Austria fights price wars with fewer rivals

By Georgina Prodhan VIENNA (Reuters) - Telekom Austria said it expected price competition to intensify in its major markets, rather than diminish as had been hoped by Austrian carriers after a consolidation of the market. Until last year, Austria had four mobile carriers fighting over a population of just 8.4 million. That was cut to three with Hutchison Whampoa's takeover of Orange Austria in January, but price pressure has not relented. Posting a 7 percent drop in first-quarter core earnings, Austria's biggest telecoms operator stuck to its forecast for full-year sales to fall to about 4. ...

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