Germany's Deutsche Telekom has promised to cut call tariffs earlier than planned in a bid to recover its falling share of the long distance and international telecomms markets.
The operator said its net profits for the first nine months of its current financial year were already higher than profits for the entire previous year, but said deregulation was hurting some parts of its business.
Deutsche Telekom said current regulation was discriminatory and had caused the company's decline in revenue during its third quarter.
"These market share losses are a direct consequence of the assymetrical regulatory practice and the resulting one-sided preferential treatment of competitors," the company said in a statement.
Telekom said it is now going to hit back, introducing tariff reductions on 1 January 1999, earlier than it had originally planned. An application for the price cuts has been filed with Germany's telecomms regulators.
Net profit for the group was up 24 per cent from DM2.45 billion (#865 million) to DM3.04 billion (#1.07 billion) for the first nine months of 1998. Turnover for the period was DM51.3 billion (#18.1 billion), compared with DM49.6 billion (#17.5 billion) a year earlier.
Including tax, profit was DM7.35 billion (#2.59 billion), ahead of last year's total profit including tax of D7.19 billion (#2.54 billion).
Deutsche Telekom saw its Internet business explode during the period, with revenues jumping 83 per cent to DM1.2 billion (#424 million). Turnover from its mobile network was also up, by 18 per cent to DM4.4 billion (#1.55 billion).
IBM and Technical University of Munich team demonstrate how Shor's algorithm, which can't be cracked by conventional computers, can be solved quickly with quantum computing
Hubble Space Telescope finds superflares from young red dwarfs could strip away planetary atmosphere
Younger stars are 100 to 1,000 times more energetic than when they're older
Two of the big four supermarkets will use the system to control sales of restricted products
PUBG news and updates: November's Update #23 to bring new Skorpion pistol and changes to blue zone visibility
Genuinely useful side-arm coming to PUBG in Update #23