Puerto Rico Telephone

Puerto Rico Telephone (PRT) is the largest Puerto Rican telecommunications services company. It is headquartered in Guaynabo, Puerto Rico and has operated for almost a century offering voice, data, long distance, broadband, directory publishing and wireless services for the island residents and businesses. It was a public corporation of the government of Puerto Rico for many years until the majority stakes were acquired by GTE in the mid-1990s. It was a subsidiary of Verizon Communications until it was fully acquired by América Móvil in 2007.

History

On April 3, 2006 Verizon Communications announced it had agreed to sell its stakes in Puerto Rico Telephone and their sole ownership of the main Dominican telephone company Verizon Dominicana, now Claro-CODETEL, to América Móvil of Mexico.^[2][3]

On December 31, 2006 Verizon and América Móvil completed Claro-CODETEL ownership transfer into Mexican hands. After another three months and various litigations upon the Federal Communications Commission, which had advise from the Junta Reglamentadora de Telecomunicaciones de Puerto Rico, in March 30, 2007 Telecomunicaciones de Puerto Rico, Inc. (TELPRI) assets were completely acquired by América Móvil. The purchase was closed after an agreement to purchase from Popular, Inc., the government of Puerto Rico and the PRT employee stock ownership program, the remaining stocks of TELPRI at the same price as Verizon.

To present day, América Móvil is the 100% owner of the company^[4] and has rebranded PRT's wireless arm -formerly Verizon Wireless- under their international Claro brand.^[5].

External links

• Puerto Rico Telephone Official Site

References

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