Mergers and Acquistions News
Categories: Telecoms
December 14th 2010, 16:59PM
Singapore Telecommunications (SingTel) and Portugal Telecom have announced an agreement to share intelligence in fibre optic and pay-TV services in order to eventually develop ultra high-speed fixed and wireless networks.
Both firms are the leading telco firms in their respective countries.
Portugal Telecom has a strong track record in offering pay-TV services, today providing one million homes with the service. Over the last three years, it has developed an approximate market share of 30 per cent in its domestic segment.
SingTel launched fibre optic networks to residential customers this year, offering speeds of 100Mbps, while upping its mobile capacity to 42 Mbps.
It has a strong presence in Asia and Africa, with 368 million mobile customers.
As part of the agreement, the firms will share service benchmarks and best practices, undertake joint research and development projects, and look for pools of talent across the companies, creating employee secondment programmes.
"We are witnessing a profound transformation of our business model, at an accelerated pace," said Zeinal Bava, chief executive officer of Portugal Telecom.
"At Portugal Telecom, we have been striving to lead this transformation in our markets, through a drive to achieve excellence based on a focus on innovation, execution and internationalisation," he added.
In October, SingTel became the first operator in Singapore to offer the Nokia N8 smartphone.
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