Timor Telecom

Last updated

Timor Telecom
Company type Sociedade Anónima
Industry Telecommunications
Founded17 October 2002;22 years ago (2002-10-17) [1]
Headquarters Timor Plaza  [ de ]
Dili, East Timor [2]
Area served
 East Timor
Key people
Manuel Joaquim Capitão Amaro (CEO) [2]
Products Fixed line and mobile telephony, internet
OwnerGovernment of Timor-Leste (77.65%)
Website www.timortelecom.tl

Timor Telecom, S.A. (TT) is an East Timorese telecommunications company, based in the national capital Dili.

Contents

The company originally had a state monopoly on telecommunications in East Timor. The monopoly was lifted by the government in 2010 in response to overwhelming public opinion in favour of liberalisation.

Shareholdings

As of December 2019, the largest shareholder of the company (54.01%) was Telecomunicações Públicas de Timor, S.A. (TPT), [2] which was controlled by Oi, a Brazilian company [3] owned by Timorese businessman Abilio Araújo  [ de ], with partners and capital from the Middle East and China. [4]

The shareholders of TPT were Oi (76%), the Harii Foundation – Sociedade para o Desenvolvimento de Timor-Leste (linked to the Roman Catholic Diocese of Baucau) (18%), and Fundação Oriente (6%). [3] [5]

Oi held a further 3.05% of TT via another company, PT Participações SGPS, S.A. [2] [3] The remaining shareholders in TT were the State of Timor-Leste (20.59%), VDT Holding Limited, a Macau-based company (17.86%) and East Timorese businessman Júlio Alfaro (4.49%). [2] [5]

In May 2023, Oi sold the majority stake it held in Timor Telecom for US$21.1 million to the Timorese government. Control of Timor Telecom was exercised by the companiesː TPT, which owned 54.01% of the company's shares, and PT Participações, with 3.05%. Both are controlled (TPT) or wholly owned (PT) by Oi. With the sale, the State of Timor-Leste increased its stake in the company from 20.59% to 77.65%. [6]

History

In September 1999, the telecommunications infrastructure in East Timor was destroyed during the crisis following the East Timorese independence referendum. In 2001, the United Nations Transitional Administration in East Timor (UNTAET) launched an international tender for the construction of a replacement telecommunications system. The new network was to be operated according to a concession agreement as a BOT (Build–operate–transfer) arrangement. In July 2002, the Timor Telecom consortium (led by Portugal Telecom) was awarded the tender. [1]

On 17 October 2002, the Timor Telecom consortium was transformed into Timor Telecom, S.A., the first corporation to be formed in the newly independent East Timor. [1] Under the concession agreement, TT was granted a monopoly on telecommunications in East Timor for a term of 15 years. [7]

By 1 March 2003, the company had created East Timor's first national telecommunications network, and set up its country code, +670. On that day, the company began operating the network in Dili, Lospalos, Baucau and Oecusse. By the end of 2003, landline, mobile and internet services were available on the network, and the company had opened its first store in Dili. The following year, the company started operating a telecommunications station on Atauro, and opened stores in Baucau and Gleno. [8]

In 2005, further stores followed in Maliana, Suai and Pante Macassar. In 2006, independent East Timor's first phone book appeared. The following year, 2007, the first yellow pages were published (also online) and voice mail was first offered. [8] By 2008, the company had 125,000 mobile customers. [1] In 2009, it engaged ZTE, a Chinese equipment supplier, to expand its mobile telecommunications system and establish Wideband CDMA. [9]

In March 2010, the East Timorese government approved a new telecommunications policy, under which telecommunications would be liberalised. TT's monopoly was to be ended in response to overwhelming public opinion in favour of liberalisation, and in line with developments in the European Union and other countries in the Pacific such as South Korea. [7] In 2012, the government and the company signed an agreement for the early end of the monopoly. [1]

On 2 October 2013, Portugal Telecom and Oi, S.A., a Brazilian telecommunications company, announced that they would combine operations to form a new Brazil-based business. [10] In 2015, the merged company's assets in Portugal were sold to Altice [11] to reduce debt; the merged company retained its interests in TT. [12] [13] In June 2016, Oi filed for a US$19 billion (R$65 billion) bankruptcy protection, the largest on record for Brazil. [14] In December 2016, Oi sought approval from a Rio de Janeiro district court to sell its stake in TT to Investec, [4] and in March 2017 the court gave its approval, subject to an assessment that the amount Investec had offered was appropriate. However, the deal was not completed. [3] [8]

Meanwhile, TT, now operating under the new liberalised telecommunications policy, expanded its range of services and steeply reduced its prices. [1] In 2013, it introduced three new customer plans, completed the renovation of all of its existing stores, and opened a new call centre at Timor Plaza  [ de ]. Since then, the company has introduced new technologies, including an improved internet concept and a high speed internet mobile service. [8]

Services and coverage

TT offers landline and mobile voice and internet services, under a variety of plans. [15] [16] As of 2015, the company covered about 94% of East Timor's population with mobile network and internet services, and had about 632,500 customers for those services. [1]

See also

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References

  1. 1 2 3 4 5 6 7 "About us". Timor Telecom. Retrieved 5 December 2019.
  2. 1 2 3 4 5 "Corporate Bodies". Timor Telecom. Retrieved 5 December 2019.
  3. 1 2 3 4 "Oi receives court approval to proceed with Timor Telecom sale". CommsUpdate. 22 March 2017. Retrieved 6 December 2019.
  4. 1 2 "Brazil's Oi sells operation in Timor-Leste for US$62 million". Macauhub. 16 December 2016. Retrieved 6 December 2019.
  5. 1 2 "Timorese businessman interested in increasing stake in Timor Telecom". Macauhub. 19 January 2015. Retrieved 6 December 2019.
  6. ↑ Bucco, Rafael (9 May 2023). "Oi vende participação em operadora do Timor-Leste". TeleSíntese. Retrieved 18 August 2023.
  7. 1 2 "Timor Telcom Monopoly Finished". Tempo Seminal. Agora Tempo Intermedia. 3 April 2010. Retrieved 5 December 2019.
  8. 1 2 3 4 "History". Timor Telecom. Retrieved 6 December 2019.
  9. ↑ "China's ZTE takes third generation mobile phones to East Timor". Macauhub. 6 July 2009. Retrieved 6 December 2019.
  10. ↑ "Portugal Telecom and Brazil's Oi to Merge". The Wall Street Journal.
  11. ↑ [ISIN: LU1014539529]
  12. ↑ Kowsmann, Patricia (22 January 2015). "Portugal Telecom Holders Approve Sale of Portuguese Operations to Altice". WSJ. Retrieved 11 April 2018– via www.wsj.com.
  13. ↑ "Today's Stock Market News and Analysis from Nasdaq.com". NASDAQ.com. Retrieved 11 April 2018.
  14. ↑ "Brazil's Telecom Oi files for record bankruptcy". Jelmayer, Rogerio. 20 June 2016. Retrieved 8 July 2016.
  15. ↑ "Plans". Timor Telecom. Retrieved 6 December 2019.
  16. ↑ "Internet". Timor Telecom. Retrieved 6 December 2019.
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