Etisalat, Spain firm in strategic tie-up
Abu Dhabi, July 24, 2011
Etisalat and Spain-based Telefónica, two leading telecom operators worldwide, have signed a partnership agreement that will allow them to collaborate on a range of strategic areas of their capabilities and expertise.
As a result, the companies will strengthen their capabilities to address global industry trends and compete in each of their markets, capturing efficiencies and advancing initiatives aimed at better serving their customers’ needs across their respective footprints, a statement said.
The two parties will also establish mechanisms to enable them draw on each other’s experience in various strategic areas, including collaboration on technological standardization, new global technology initiatives, R&D, and new emerging products and services designed to capture the digital growth opportunities such as M2M, financial services or cloud-based services.
Both companies have also agreed to jointly work on procurement, international capacity and wholesale services as well as offering enhanced support for multinational customers of each operator taking advantage of the benefits of the Telefónica Partners Program.
The partnership agreement is of immediate effect and will enable both companies to improve efficiency, drive innovation and generate savings.
Furthermore, the two Groups do not compete in any of their operational markets and these benefits will be offered to most of their subsidiaries and associates over the course of the agreement.
Etisalat Group today is represented in 18 countries in Africa, Asia and the Middle East, whilst Telefónica’s footprint has been established in 25 markets in Europe and Latin America. – TradeArabia News Service