SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of
Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of July 2008
Commission File Number 1-13758
PORTUGAL TELECOM, SGPS, S.A.
(Exact name of registrant as specified in its charter)
Av. Fontes Pereira de Melo, 40
1069 - 300 Lisboa, Portugal
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
Release 7 July 2008, Lisbon
Notification about mobile termination tariffs
Portugal Telecom (“PT”) announces that its subsidiary TMN was notified by ICP-ANACOM, the Portuguese telecoms regulator, of the decision related with the specification of the obligation of price control concerning the wholesale markets of voice call termination in individual mobile networks (market 16).
This decision establishes a meaningful reduction of the maximum prices to be applied by the mobile operators with significant market power in the termination of voice calls, as follows:
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Euro |
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TMN / Vodafone |
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Optimus |
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15 July 2008 |
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0.080 |
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0.096 |
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1 October 2008 |
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0.075 |
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0.090 |
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1 January 2009 |
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0.070 |
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0.084 |
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1 April 2009 |
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0.065 |
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0.078 |
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1 July 2009 |
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0.065 |
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0.072 |
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1 October 2009 |
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0.065 |
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0.065 |
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PT believes that the terms of this deliberation are illegal and disproportionate. The current decision of a steep reduction in the values of termination not only ignores the associated revenue loss related with the international traffic, but also jeopardises the meaningful investments that have been made by the mobile sector in the last decade, damaging, as a consequence, the balance of payments, the competitiveness and the future innovation in Portugal, with a clear damage for the consumers.
In what concerns the asymmetry in favor of the operator Optimus, PT believes that the legal requirements are not met. As such, it translates into another positive discrimination of that operator, which adds to the circa Euro 125 million “savings” that Optimus has been benefiting since 1998, when compared with the costs of spectrum registered by TMN.
Taking into consideration the illegalities evidenced that wound the current decision of the regulator, PT will recourse to the legal means at its disposal to contest its legality and effectiveness.
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Portugal Telecom, SGPS, SA |
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Public company |
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Portugal Telecom is listed |
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Nuno Vieira |
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Avenida Fontes Pereira de Melo, 40 |
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Share capital _ Euro 28,277,855.31 |
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on the Euronext and New |
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Investor Relations Director |
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1069-300 Lisbon |
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Registered in the Commercial |
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York Stock Exchange. |
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nuno.t.vieira@telecom.pt |
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Portugal |
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Registry Office of Lisbon |
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Information may be |
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Tel.: +351 21 500 1701 |
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www.telecom.pt |
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and Corporation no. _ 503 215 058 |
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accessed on the Reuters |
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Fax: +351 21 500 0800 |
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under the symbols |
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http://ir.telecom.pt |
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PTC.LS and PT and on |
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Bloomberg under the |
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symbol PTC PL. |
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1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 7, 2008
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PORTUGAL TELECOM, SGPS, S.A. |
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By: |
/s/ Nuno Vieira |
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Nuno Vieira |
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FORWARD-LOOKING STATEMENTS
This document may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.