Belgian cable and telecoms operator VOO, owned by Tecteo, has racked up losses of €97 million during 2010. Total losses for the past two years were €163 million, according to the Le Soir newspaper.
VOO is the telecoms and cable division of the Liege based intercommunale company Tecteo, a public utilities company owned by a number of Walloon municipalities. Overall, Tecteo is performing well with a turnover of €389 million and a profit of €84.8 million for 2010.
According to the newspaper, Tecteo said that 2010 was a very bad year for VOO and that things will get better from now on.
VOO is the brand which the company uses for its cable TV and telecom activities. Interestingly, the recently awarded mobile licence was aquired by the Telenet Tecteo Bidco compnay, which at the moment has just a sole owner, Telenet. Tecteo is expected to acquire a 26% share in the new venture in due time.
