Executive director of mobile operator AMC, Stefanos Oktapodas, revealed the company's intentions to realize some €40 million over the span of the year in network extension, service quality improvement and introduction of new services for subscribers. In addition, Oktapodas rejected claims on the part of state authorities (telecoms and antimonopoly bodies) that the telecom possesses monopoly power and applies services rates much higher than those in the region. In the view of the company, AMC offers some of the lowest rates on the market, which is in line with the price policy of the other telecoms held by Greek Cosmote, also the owner of AMC. AMC cannot be defined as a monopoly because it competes with the other private operator on the market Vodafone. The two companies capture almost equal shares of the 1.5 million mobile subscribers. AMC reported revenue growth of 14% y/y last year to €138 million. It netted a profit of €41.5 million. In comparison, Vodafone's sales revenues increased 16% y/y to €155 million.