The first Online Auction of ROMTELECOM by cosmoONE Hellas MarketSite was held with absolute success on Friday 7 December 2007.

The auction was conducted in the Romanian language involving the supply of telecommunications equipment worth more than three (3) million USD.

The type of auction chosen was English Reverse and the results far exceeded - up to this point - discount rates of similar competitions.

Eight (8) of the largest companies in Romania were involved in the competitive process. The Online Auction lasted more than forty (40) minutes and finished with four (4) three-minute extensions, with a total of thirty-seven (37) bids submitted.

According to Mr. Bodgan Cotirlan, Director General of Supplies ROMTELECOM, «ROMTELECOM, using the services of cosmoONE's Electronic Procurement, aims to cut the cost of acquisition of goods and services. Specifically, the Electronic Auctions help ROMTELECOM's staff to exploit their experience in procurement and achieve impressive reductions in the prices requested».