Lisbon, 15 April 2002 – Optimus and Vodafone Telecel today signed an agreement to set up a company to construct, manage and operate the two operators physical telecommunications infrastructures, such as towers and roof tops.
To be known as Situs – Exploração de Torres de Telecomunicações e Sites, S.A. (Situs), the company is a joint venture owned in equal shares by Optimus and Vodafone Telecel, and will have an initial share capital of 50,000 euros.
The share capital will be increased by transferring ownership of the physical infrastructures to the new company following valuation by an independent body. Situs will start operating after approval has been obtained for its establishment by competition authorities.
The establishment of a company like Situs, in one of the most competitive sectors of the Portuguese economy, is especially significant. It creates better conditions for the minimisation of the environmental impact of existing and future network infrastructure, as well as generating significant savings in terms of investment and costs for both operators.