Buongiorno Foreshadows More 'Consolidation'; Revenue Down 15 Percent In Early '09

Italian mobile content vendor Buongiorno has released its guidelines for 2009, indicating that it plans to further consolidate iTouch, which it bought last year and was largely responsible for an 80 percent increase in revenue.

In the first two months of 2009 EBITDA for Buongiorno (BIT: BNG) was “substantially in line with that of the first two months of 2008″, although preliminary revenues were down by about 15 percent. Buongiorno cited its challenges in the year ahead as: increased regulation (on occasion entailing excessive consumer protectionism); the relative maturity of the demand for MC 1.0 products in the most developed European countries; and fragmentary, chaotic competition. It sees opportunities in emerging countries, the greater propensity for telcos to outsource their portals and consolidation in the market benefiting larger companies.

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