Telecoms news from Portugal

Fitch Affirms Portugal Telecom at 'BBB'; Outlook Negative

The ratings reflect Fitch's view that at some stage the Portuguese economy will recover - albeit not soon - at which point Portugal Telecom's domestic business may be expected to return to growth. For now, this business is performing reasonably well in the face of harsh consumer conditions. ...more.

2.24 Million Portuguese Phone Numbers on Ported Networks

Portugal's telecoms regulator, Anacom has announced that 2.24 million phone numbers are now ported to operate on a different network from its original under the country's number portability scheme. ...more.

France Telecom Exercises Option to Sell Stake in Portuguese Mobile Network

France Telecom-Orange has agreed to sell its 20% stake in the Portuguese mobile network operator, Sonaecom (which trades as Optimus) for up to EUR113.5 million. ...more.

Portugal Telecom Downgraded on Continuous EBITDA Pressures; Outlook Negative

S&P said that the downgrade reflects its concerns regarding the relentless decline in domestic EBITDA which the rating agency expects to continue this year. ...more.

Portugal Proposes Sales Tax on Tablets and Smartphones

The Portuguese government is considering a tax on consumer electronics that would impose a sales tax based on the internal storage memory of the device being sold. ...more.

European Commission Seeks Fines Over Portuguese Universal Service Provision

The European Commission has asked the European Court of Justice to impose a fine on Portugal because it has not respected a 2010 Court judgement requiring it to follow EU telecoms rules when deciding who should provide universal service in Portugal. ...more.

Telefonica and Portugal Telecom Fined for Non-Competition Agreement

The European Commission has imposed fines of EUR66.9 million on Telefonica and EUR12.3 million on Portugal Telecom for agreeing not to compete with each other on the Iberian telecommunications markets. ...more.

Vodafone Portugal to Take Over Monitoring of UK and Irish Networks

Vodafone Portugal has announced that in addition to the network of Spain, it will also monitor the communications networks of the company's operations UK and Ireland. ...more.

Huawei Wins Portuguese LTE Antenna Contract

Huawei has been selected by Portuguese mobile operator Optimus to provide UMTS/LTE multi-frequency antennas for its LTE network. ...more.

Portugal's Sonaecom Applies for European Bank Funding

The Portuguese mobile network operator, Sonaecom has applied for a EUR110 million loan from the European Investment Bank (EIB). ...more.

Fitch: Peripheral Telco Problems Highlight Need for Further Dividend Cuts

Fitch Ratings says that eurozone redenomination scenarios are weighing heavily on investors' minds and peripheral telcos have to demonstrate plans to mitigate potential near-term liquidity shortages caused by weakening access to debt markets. ...more.

Moody's: Portugal Telecom's dividend cut and refinancing extension are credit positive

Moody's Investors Service has said that it views as credit positive for Portugal Telecom the company's recently announced reduction in its shareholder remuneration policy for 2012-14 and the extension of its refinancing until June of 2016. ...more.

Portugal Telecom to Focus on Repaying Debt due to Ongoing European Debt Crisis

Portugal Telecom has decided to pare back its dividend payments to shareholders and focus on paying down debt in order to deal with the current economic climate in Europe. ...more.

European Countries Face Sanctions for missing telecom rules deadline

The European Commission has decided to refer five Member States - Belgium, The Netherlands, Poland, Portugal, and Slovenia - to the EU Court of Justice because they have still not implemented the revised EU telecoms rules into their national laws. ...more.

Portugal Telecom Revenues Jump on Acquisitions but Profits Fall

Portugal Telecom has announced a near doubling in its first quarter revenues of EUR 1.72 billion, but a 56 percent drop in its profits of EUR 56.5 million. ...more.

Fitch Affirms Portugal Telecom Debt Ratings with a Negative Outlook

Portugal Telecom continues to perform within Fitch's expectations, with ongoing pressures on its domestic business offset to some extent by growth in the international (non-Brazilian) businesses and good dividend income from associate interests ...more.

Portugal Faces Fines Over Universal Access Rules

The European Commission has asked the European Court of Justice to impose a fine on Portugal because it has not respected a 2010 Court judgment requiring it to follow EU telecoms rules when deciding who should provide universal service in Portugal. ...more.

Portugal Telecom's Debt Ratings Lowered Following Country Downgrade

Standard & Poor's Ratings Services has lowered its long-term and short-term corporate credit ratings on Portugal Telecom to 'BB+/B' from 'BBB-/A-3. The outlook is negative. ...more.

European Commission Investigation Agreement Between Portugal Telecom and Telefonica

The European Commission has sent a statement of objections to Telefonica and Portugal Telecom regarding their agreement not to compete on the Iberian telecommunications markets. ...more.

Purgugese Network Restructuring to Prepare for LTE Services

Portuguese CDMA450 network operator, Zapp is reported to be seeking to make around half its staff redundant under a restructuring plan to prepare the company for the country's forthcoming LTE license auctions. ...more.