«A1 Telekom Austria» Cuts Investment in Belarus Due to Internet Outages, 5G-Related Uncertainty and Taxes
OREANDA-NEWS. «A1 Telekom Austria Group» has published a financial report on the results of the holding in 2020. The document also contains data related to the operating activities of the holding's subsidiary in Belarus — telecom, ICT and content provider «A1».
According to the document, the company reduced the volume of capital investments in the Belarusian asset in 2020 by 78.3 million euros due to a combination of factors, that had an adverse impact on the investment attractiveness of Belarus. There are the suspension of some services from August to November for reasons beyond the control of the company, uncertainty in licensing and allocation of the frequency range for the deployment of 5G networks, as well as a temporary increase in the income tax rate provided for by amendments to the Tax Code for mobile operators.
As a reminder, the Internet has been regularly turned off in Belarus due to mass protests. From August 9 to November 29, Belarusians spent more than 102 hours without mobile Internet.