Simobil Records Losses of SIT 1.79 Billion

Ljubljana, 31 May - Slovene mobile telephony operater Simobil recorded losses of SIT 1.79 billion (almost 8.8 million euros) last year. The business result was expected, said Simobil's finance director Vlasta Mikis, adding that the company expected lossess in 2000 as well. While Mikis refused to discuss the anticipated loss in 2000 due to changes in accounting technology and standards, she explained that last year's losses resulted from heavy investments. In 1999 the company's incomes amounted to SIT 2.29 billion (11 million euros).