LISBON, Portugal-Portugal Telecom announced the creation of PT Moveis, a sub-holding company for the carrier’s mobile businesses. The sub-holding company will combine all of Portugal Telecom’s domestic and international mobile assets and interests.
The new company will be the vehicle Portugal Telecom uses to bid for future Universal Mobile Telecommunications System and other licenses, the company said.
“At present, there are no plans for a public flotation of PT Moveis, however, the PT Group will consider this possibility if it becomes apparent such a move would create further value for its shareholders,” said the company.
Portugal Telecom has interests in TMN in Portugal, Telesp Celular and CRT Celular in Brazil, Morocco’s MediTelecom and Mascom in Botswana. The company said its mobile operations cover a population of 86 million and include about 6.5 million combined subscribers. At the end of March, mobile customers represented about 53 percent of Portugal Telecom’s total customer base.
