According to Nuno Vasconcellos, the merger of Portugal Telecom and Oi will enable the new company to take on the global market of Lusophone users.
There are 220 million Portuguese speakers of which, according to PT-Oi, 100 million are customers.
Nuno Vasconcellos — CEO of Ongoing, which controls iG and owns shares in Portual Telecom — issued a statement this morning emphasizing the significance and size of CorpCo, a holding created as parter of the Oi-PT merger.
According to Vasconcellos, the new multinational will operate more efficiently with the support of a shareholder structure that is cohesive and ambitious. It will also be the largest telecommunications group in the Portuguese language.
Here is what Nuno Vasconcellos, CEO of Ongoing, said about the recently announced merge:
“It is with enormous satisfaction that I view the announcement of a deal that realizes a vision in which we believed and in which we participated and invested.
PT and Oi , together, have the knowledge and the size to be a player in the global market, as the world’s largest telecom operator in the Portuguese language, with more than 100 million customers on four continents.
Joining forces will enable us to operate more efficiently, as part of a more financially sound company with an equity structure that is cohesive and ambitious. With a management team that has proven its immense worth, we will face the challenges typical of a global player — a true multinational that speaks Portuguese.
The enormous effort by the central group of PT shareholders and all the work performed by the management team has paid off handsomely — it was this effort that built the foundations for areality that is coming true: a genuine multinacional that speaks Portuguese.
Ongoing invested, reinforced, and took many bets in the process of creating a global telecom operator, capable of meeting the challenges of a global market in Portuguese. This deal shows that this vision makes sense and that what we are commemorating today is not an end, but rather the beginning of the road.
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