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Telecel announces formation of TelecelOnline

Telecel today announces the formation of a new 100% owned subsidiary – TelecelOnline – which will encompass all the existing Internet activities of Telecel. The new company will provide Internet access, communication and information services, integrated and personalised content, horizontal and vertical portals, business to business and business to consumer, e-commerce and ASP (Application Service Provider) services.

The board of TelecelOnline will have Mr. Antonio Carrapatoso as Chairman and Mr. Paulo Rodrigues da Silva as Chief Executive Officer. The new company will have an issued share capital of five million Euros, with 5 million shares issued at a nominal value of 1 Euro per share.

Mr. Antonio Carrapatoso, Chairman and CEO of Telecel said “The formation of TelecelOnline marks an important step in our commitment to the leadership of the convergent services of mobile and Internet. TelecelOnline’s strong competencies in the area of content will assist in the development of products and services for the third generation mobile and will contribute to the information society in Portugal”.