1994-07-18, English, Article, Other article edition: Telefonica expands stronghold overseas; in Peru, Spanish company stresses potential over peril. (Telefonica Internacional de Espana) Vitzthum, Carlta

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Physical Description
  • Newspaper article
Published
  • Dow Jones &​ Company, Inc., 1994 July 18
Language
  • English

Edition details

Title
  • Telefonica expands stronghold overseas; in Peru, Spanish company stresses potential over peril. (Telefonica Internacional de Espana)
Also Titled
  • Telefonica expands stronghold overseas; in Peru, Spanish company stresses potential over peril.
Appears In
  • The Wall Street Journal Western Edition, 1994 July 18, pA7A(W) pB6A(E) (ISSN: 0193-2241)
Author
  • Vitzthum, Carlta
Published
  • Dow Jones &​ Company, Inc., 1994 July 18
Physical Description
  • Newspaper article
Subjects
Target Audience
  • General
  • Trade
Summary
  • Telefonica Internacional de Espana pays $2 billion to acquire a 35% position in Peruvian telephone companies, Peruana de Telefonos and Empresa Nacional de Telecommunicaciones de Peru SA. The $2 billion offer was more than double that of rival bids submitted by two US telecommunication firms GTE and Southwestern Bell. Telefonica Internacional CEO Ignacio Santillana believes that the gap in the bid prices is due to the US firms' failure to adequately grasp both the perils and rewards of operating in Peru. He believes the political situation in Peru is more stable than in the past and cites a drop in Maoist-backed terrorism. He also believes that the Peruvian phone market is poised for growth and that the number of lines in Peru should grow from 2.6 to at least seven per 100 people. The Peruvian acquisitions are also part of Telefonica de Espana's strategy to expand its customer base in South America. The company has made similar acquisitions in Chile, Venezuela and Argentina since 1989.
Language
  • English
Database
  • Gale General OneFile
Identifier
  • 15579635

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State Library of Western Australia. Open to the public .b1153901x; held Periodical; Newspaper English
State Library Victoria. Open to the public 1035002; July 18 1966-Mar. 7, 2014; held Periodical; Newspaper English
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State Library Victoria. Open to the public 1035002; July 18 1966-Mar. 7, 2014; held Periodical; Newspaper English
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