Lisbon, Portugal, 24 Jan – Portugal Telecom is looking for investment opportunities in the Chinese market, particularly in Macau, Guangdong, Beijing and Shanghai, in order to place itself in a good position for the future liberalization of the telecommunications sector, due in 2007, the company’s chairman said in Lisbon Monday.
Miguel Horta e Costa, speaking on the sidelines of a seminar organized by the Portugal-China Chamber of Commerce (CCIL-C), of which he is also the president, said that Portugal Telecom saw, “very interesting opportunities” in China but that “first you have to know the market.”
“The Chinese culture is very different from the South American culture,” he said as it required more preparation for approaching potential partners, and less impetuosity.
Portugal Telecom recently grouped its interests in the Asian market into a single holding company, called Ásia PT.
The assets held by this new company include CTM, TV Cabo Macau and Timor Telecom.
At the same time, the Portuguese group said it had bought a majority stake in China Pathway, a partner of China’s Ministry of Transport in developing a real time vehicle location system. (macauhub)