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FINANCIAL NEWS
UAE’s Etisalat, Telefonica ink agreement
23 Jul 2011
(MENAFN) Spain-based Telefonica stated that it inked an agreement with Etisalat in an attempt to r5educe costs, reported Reuters.
Telefonica had earlier signed a similar deal with France’s Bouygues under which the two companies cooperated in the fields of procurement, research and development of new services and telephone traffic management.
The two companies added that for the sake of mutual benefit, they would not compete in mutual markets.
It is worth noting that the two companies expressed content with this deal as they see it achieving more efficiency, innovation as well as cutting costs.
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