Company briefs

  • 2013-07-24

Estonia’s Competition Board will ask for explanations from cinemas based in Tallinn on their move to all raise ticket prices on the very same day, reports National Broadcasting. On June 21, both Coca-Cola Plaza and Solaris Kino raised ticket prices and when questioned by the media, they said that it was just a coincidence. On July 17 Forum Cinemas, the enterprise operating the Coca-Cola Plaza multiplex cinema, announced that it plans to buy Solaris Kino. The Competition Board will also initiate proceedings to decide whether to green-light the purchase.

Tele2 Estonia reported that the company’s EBITDA rate (earnings before interest, taxes, depreciation and amortization) fell by 31 percent in the first half of the year to 9.5 million euros, reports Postimees Online. The company’s turnover declined by 23 percent, to 37.6 million euros. CFO of Tele2 Estonia Argo Virkebau stated that the first half of 2013 was characterized by a clear trend in the mobile communications business moving from sales of call minutes to providing data communications services. “End prices of services provided to clients have fallen, but the increase in data communications services volumes has not yet compensated for the decline in margins,” said Virkebau.

On July 18, the National Control Commission for Prices and Energy of Lithuania adopted the decision to revoke the natural gas transmission license No. L2-GDP-01, issued to Lithuania-based gas company Lietuvos Dujos by the NCCPE on Dec. 17, 2001, the company said in a statement. The license will be revoked from Aug. 1, and the fixed-term natural gas transmission license will be granted to Amber Grid, which will enter into force on Aug. 1, 2013.