Telefonica | July 21, 2011 | Press Release
Madrid, Spain & Abu-Dhabi, UAE, July 21st 2011 – Etisalat and Telefonica, two leading telecom operators worldwide, today jointly announced that they have signed a Strategic Partnership Agreement to enter into a broad-based cooperation. The partnership will allow both Groups to collaborate on a range of strategic areas given 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.
Under the terms of the Agreement, the companies will establish mechanisms to enable them to 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. Additionally and taking advantage of the benefits of the Telefónica Partners Program, 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
The Partnership Agreement, which is effective immediately, will enable both companies to improve efficiency, drive innovation and generate savings. The agreement is expected to reinforce each company’s leadership in their markets, and provide a stronger basis to compete globally in the changing telecommunications industry.
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. The Etisalat Group is today 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.