Weak Macroeconomic Outlook Presents Downside Risk To LTE Growth Prospects In Portugal

Q112 has seen a flurry of activity in Portugal's LTE market, with the country's three incumbent mobile operators Portugal Telecom (TMN), Vodafone Portugal and Sonaecom (Optimus) rolling out LTE networks in time for the distribution of LTE licences by the telecoms regulator, ANACOM, on March 20 2012. The LTE technology will allow the operators to offer high capacity mobile data services. However, BMI believes Portugal's weak economic outlook and deteriorating political risk profile will reduce consumers' appetite for high-value services, including premium data offerings, in the short to medium term.

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