name: Portugal Telecom
Portugal Telecom is the largest telecommunications service provider in Portugal. The company’s business is mainly in Portugal and Brazil, but it also has some business markets in Guinea-Bissau, Cape Verde, Mozambique, East Timor, Angola, Kenya, Sao Tome and Principe. Since Portugal Telecom occupies a larger share of the fixed-line telephone market in Portugal, it is considered to monopolize the fixed-line telephone business in Portugal.
In 1877, Portugal’s first telephone experiment was connected from Carcavelos to Lisbon Central do Cabo. In 1882, Edison Gower-Bell Telephone Company was established in Lisbon and Porto to provide corresponding preferential telephone services. In 1887, the concession was transferred to the Asia Pacific -Anglo Portuguese Telephone Company, until 1968, the public company’Telefones de Lisboa e Porto’ was established. Today, Portuguese telecommunications services cover post office, telegraph and telephone services.
In 1925, Companhia Portuguesa Rádio Marconi (CPRM) was founded. In 1970, CTT became a listed company, and in 1989, TLP became a limited liability company and was fully controlled by the state. In 1992, the Portuguese government and public service television company RTP agreed to separate the transmitter network from the rest of the company and transmit it to a newly formed state-owned company named Teledifusão de Portugal (TDP). The purpose of this is that the company can be used for any television station in Portugal, and its service can cover the entire Portuguese radio and television network.
In December 2009, Portugal Telecom acquired RETI. On October 2, 2013, Portugal Telecom and Brazil’s Oi stated that they would work together to form a new Brazilian company with more than 1 million subscribers. The resulting temporary name of the company is CorpCo.
Portugal Telecom is headquartered in Lisbon, Portugal, and its CEO is Henrique Granadeiro. In the 2010 fiscal year, its revenue was 3.742 billion euros, operating income was 413.8 million euros, profit was 5.672 billion euros, total assets were 15.17 billion euros, total equity was 4.609 billion euros, and 33,520 employees.
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