an nima and subsidiary industry telecommunications founded 1994 headquarters lisbon portugal key people paulo neves ceo 1 products fixedline & mobile telephony fixedline & mobile internet digital television it services revenue 2.718 billion 2014 2 operating income 1.053 billion 2014 2 profit 384.0 million 2014 2 total assets 7.400 billion end 2014 2 total equity 1.650 billion end 2014 2 owner altice group number of employees 10 701 end 2014 2 website www.telecom.pt pt portugal sgps sa also known as portugal telecom or pt is the largest telecommunications service provider in portugal . since june 2 2015 pt portugal is a wholly owned subsidiary of altice group a multinational cable and telecommunications company with a presence in france israel belgium & luxembourg portugal french west indies indian ocean area and dominican republic overseas territories and switzerland . its assets in portugal were sold to altice 3 in 2015 in a move of its owner oi sa 4 to reduce debt . the african assets were mostly sold for the same reason . portugal telecom sgps sa was split in separate companies pt portugal owned by altice and pharol formerly pt sgps which owns a 27 5 % stake in oi . 5 6 contents 1 history 2 operations 2.1 domestic 2.2 international 3 ownership 4 notes 5 external links history edit the first telephone experiments in portugal connected carcavelos to the central do cabo in lisbon in 1877 . in 1882 the edison gower bell telephone company was established in both lisbon and porto to explore the respective telephone service concessions . in 1887 the concession was transferred to apt the anglo portuguese telephone company which was kept by the latter until 1968 the year in which the public company telefones de lisboa e porto tlp was created . the post office telegraphs and telephones ctt explored until this present day the telephone service in the rest of the country . for the exploration of radiotelegraphy and wireless telephone a contract with the marconi s wireless telegraphy company concession was confirmed in 1922 . in 1925 the companhia portuguesa r dio marconi cprm was set up and took on all responsibilities of the previous concession . in 1970 ctt became a public company and in 1989 the tlp was transformed into a limited company and was completely controlled by the state . in 1992 the portuguese government and the public service television corporation rtp agreed to separate the transmitter network from the rest of the corporation transferring it to a recently created state owned company named teledifus o de portugal tdp . the purpose of this was to explore a nationwide tv broadcasting network available for any tv station in portugal to request its services . at the time rtp a native client of tdp was having competition for the first time since its creation in the 1950s . sic required the services of tdp but tvi decided to create its own transmitter network reti . in 1992 ctt became a limited company with public capital and the comunica es nacionais spgs sa cn was created a state holding company responsible for the managing of all state participation within the sector ctt tlp cprm e tdp . in this same year the telecommunications developed by ctt was automatized through the creation of telecom portugal sa giving ctt the possibility to dedicate itself exclusively to the post office . with this portugal had its own telecommunications network which was being explored by 3 operators the tlp explored the telephone services in the lisbon and porto areas telecom portugal was responsible for the remaining national european and mediterranean communications ; and marconi took hold of international traffic . in 1994 a unique national telecommunications operator was created with the fusion of companies within the cn state holding portugal telecom sa pt with the fusion of telecom portugal tlp and tdp . portugal telecom was the only telephone operator in portugal being a monopoly until 1994 when the government gradually retired its control over the corporation and in 2000 portugal telecom became a publicly owned company . since then it has held a dominant position in the liberalized portuguese market . headquarters in lisbon in early 2007 the portuguese conglomerate sonae s takeover offer for portugal telecom failed . pt s board rejected an initial bid worth eur 11.1 bn in february 2006 . sonae.com s takeover bid opposed belmiro de azevedo founder and historical chairman of sonae holding company and his son paulo azevedo then the head officer of sonae.com telecommunications operator to the investor jos berardo and pt s administrators zeinal bava and henrique granadeiro . clarification needed in april 2007 the european commission gave an ultimatum to the portuguese government ordering it to give up on the 500 golden shares pack that it owned on the company and that enable special veto powers to the government on vital issues . this could give the government a decisive role in the bid by any company to buy portugal telecom . in november 2007 portugal telecom spun off its media assets pt multim dia that included tv cabo and lusomundo cinemas . in january 2008 the european commission began legal proceedings against the portuguese government over its golden share in incumbent telecoms operator portugal telecom . the 500 golden shares with extended voting rights allowing it to block potential takeover bids were the reason for the commission s legal action . similarly in november 2005 the commission had forced the spanish government to give up its golden share in the other telecommunications major player in the iberian peninsula the spanish telecoms giant telef nica . in december 2009 portugal telecom purchased reti . in october 2 2013 portugal telecom and brazil s oi said they would combine operations to form a new brazil based company with more than 100 million subscribers . 7 the resulting company s provisional name is corpco . armando almeida replaced zeinal bava at the helm of portugal telecom on august 18 2014 . zeinal bava skipped off to oi in brazil . 8 on june 2 2015 altice group announced closing of portugal telecom acquisition . 9 10 paulo manuel da concei o neves was appointed as ceo . 11 operations edit domestic edit portugal telecom owns meo the largest landline operator in portugal . 12 its operating brands include meo a quadruple play service provider and sapo an isp and producer of web content . portugal telecom also owns altice labs formerly known as pt inova o an it services and research and development company ; pt contact focused in the business of managing contact centres . international edit portugal telecom does not run any international operations since all have been transferred to oi in 2014 . 13 brazil was portugal telecom s second largest market . pt agreed to acquire 22.4 % of telemar norte leste oi the country s largest telecommunications firm in july 2010 . 14 separately it also had 29 % of uol a major brazil based isp and online service provider ; and was the sole owner of dedic a call centre operator . 12 pt previously held 29.7 % of vivo the country s largest mobile phone network which it controlled jointly with telef nica . it agreed however to sell its stake to telef nica for 7.5 billion in july 2010 . 14 portugal telecom s other main international assets were based in africa and asia largely in portuguese speaking nations . through a 75 % owned investment holding company africatel pt had an effective 18.75 % of angola s largest mobile operator unitel ; 30 % of cabo verde telecom cvt of cape verde ; 38.25 % of companhia santomense de telecomunica es cst of s o tom and pr ncipe ; and 25.5 % of the namibian mobile firm mtc . 12 the firm sold a 32 % shareholding in m ditel of morocco in september 2009 . 15 in asia portugal telecom owned 41.1 % of timor telecom of east timor . ownership edit portugal telecom is no longer a publicly traded company since 100 % of its capital is owned by altice group . as of 15 november 2011 its major stockholders were esp rito santo financial group 11.30 % rs holding 10.05 % capital research and management 9.97 % oi 7.00 % caixa geral de dep sitos 6.23 % brandes investment partners 5.24 % and norges bank 5.01 % . after privatization the portuguese government owned 500 golden shares in pt which carried special rights over the company s management decisions and blocked any one shareholder from holding more than 10 % of voting rights within the company . 16 the golden shares were the subject of a long running dispute between the government and the european commission which alleged that their existence was illegal under eu law . portugal argued that the shares were in the public interest . a case brought before the european court of justice by the commission to force the government to cede its shares resulted in the announcement of their abolition in july 2011 . 17 on 2 october 2013 it was reported that portugal telecom and brazil s oi are to merge to create a brazil based company . 18 since june 2 2015 pt portugal is a wholly owned subsidiary of altice group a multinational cable and telecommunications company with a presence in france israel belgium & luxembourg portugal french west indies indian ocean area and dominican republic overseas territories and switzerland . notes edit http www.telecompaper.com news pt portugal names new management 1091417 a b c d e f consolidated report 2014 pdf . pt portugal . retrieved 30 july 2014 . isin lu1014539529 isin broibracnor1 http www.wsj.com articles portugal telecom holders approve sale of portuguese operations to altice 1421958476 http www.nasdaq.com press release oi approval by telemar participacoes shareholders of the planned measures for the transaction goal 20150401 00016 the wall street journal http online.wsj.com news articles sb10001424052702304906704579110693710265598 . missing or empty title help portugal telecom s new chief to put customers first algarve daily news 18 09 2014 altice announces closing of portugal telecom acquisition pdf . june 2 2015 . first1 missing last1 in authors list help altice finalises acquisition of portugal telecom . agence france presse and business insider . june 2 2015 . retrieved august 1 2015 . . pt portugal names new management . a b c corporate structure . portugal telecom . 1 september 2009 . retrieved 23 january 2010 . oi capital increase pdf . a b minder raphael 28 july 2010 . telef nica wins full control of brazil phone venture . the new york times . retrieved 31 july 2010 . tavares elisabete ; khalip andrei ; macinnes judy 1 september 2009 . portugal telecom telefonica sell meditel stakes . reuters . retrieved 23 january 2010 . wise peter 16 february 2007 . sonaecom lifts portugal telecom bid . financial times . retrieved 23 january 2010 . goncalves sergio ; alvarenga daniel 5 july 2011 . portugal scraps golden shares in utilities . reuters . retrieved 18 november 2011 . patricia kowsmann and rogerio jelmayer 2 october 2013 . portugal telecom and brazil s oi to merge . the wall street journal . wall street journal . retrieved 2 october 2013 . missing last1 in authors list help external links edit official website v t e psi 20 companies of portugal altri banco comercial portugu s banco portugu s de investimento banif ctt correios de portugal energias de portugal edp renov veis galp energia impresa jer nimo martins mota engil nos portucel soporcel pharol redes energ ticas nacionais semapa sonae teixeira duarte retrieved from https en.wikipedia.org w index.php title portugal telecom & oldid 715531549 categories companies formerly listed on the new york stock exchangetelecommunications companies of portugalportuguese brandscompanies established in 1994companies based in lisbonhidden categories pages with citations lacking titlespages with citations having bare urlscs1