Telecoms news from Portugal
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.
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-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.
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.
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.
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.
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 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 has been selected by Portuguese mobile operator Optimus to provide UMTS/LTE multi-frequency antennas for its LTE network. ...more.
The Portuguese mobile network operator, Sonaecom has applied for a EUR110 million loan from the European Investment Bank (EIB). ...more.
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 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 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.
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 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.
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.
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.
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.
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.
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.