AS EESTI TELEKOM

ANNOUNCEMENT

11.02.99

 

 

COMMENTARY TO THE FORECASTS OF EESTI TELEFON PUBLISHED IN MEDIA

 

According to the 16.12.1992 concession agreement concluded 

between the Government of the Republic of Estonia and AS Eesti 

Telefon, AS Eesti Telefon presents annually to the Government 

its 3+10 years business plan for revision.

Unfortunately, in the course of such procedure, the information 

contained in the confidential business plan has leaked to the 

media.

 

We find that the disclosure of confidential information is not 

consistent with the generally approved principles of business 

ethics, since manipulation with these forecasts as extraction 

from the business plan as a whole, misinforms the public, thus 

it is the liability of the respective media channels.

 

The volume of 1998 gross profit forecast published in media, 

230 –250 million EEK, is in accordance with the business plan 

of AS Eesti Telefon.

 

 

 

Tarmo Amer

Member of the Management Board

AS Eesti Telekom