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Broadband

Teleste looks to sell German Cableway operations as Q1 sales drop 11%

Friday 15 May 2020 | 09:56 CET | News
Teleste said it has decided to sell its Cableway services businesses in Germany. The announcement came alongside first-quarter results showing an 11.4 percent drop in net sales and 18.3 percent fall in adjusted operating profit. Selling the German services business aims to safeguard Teleste's financial position and ability to invest in growth areas. Teleste said if restrictions on movement to curb coronavirus stay in effect until the end of Q2 the negative impact on its FY net sales would be significant.

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Categories: Fixed
Companies: Cableway / Teleste
Countries: Germany / World
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