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Wind Hellas update

http://www.wind.com.gr/pages.fds?langID=2&pageid=77

For those that are in anyway interested, Wind Hellas’s accounts (see blog entry 11th Jan) are available at the above address.

Were they in trouble?

Well, the balance sheet was strongly boosted by  very substantial “intangiable assets” entry. This most controversial of balance sheet entries is so very difficult for an outsider to value, especially in an industry as complex as telecoms. It is widely abused of course, simply because it is relatively easy to do so. At least one major credit reporting agency will assess balance sheets only when “intangiable assets” are removed. But at the same time, there is a genuine case for value given to “intangiables” in certain sectors.

Which makes credit evaluation easy…..

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