Brussels, 16/08/2000 (Agence Europe) - The European Commission has cleared a plan for a joint-venture between the Spanish telecommunications firm Telefonica Internacional SA and America's Tyco International Ltd, considering that the operation would have no significant effect on the European market. The joint-firm, - Sam 1 - will build operate and market an undersea fibre-optic cable ring around South America.
Telefonica is a telecommunications operator located in Spain, and TISA, its subsidiary for Latin America, provides fixed and mobile telephone services in Brazil, Argentina, Chile, Peru, El Salvador, Guatemala and Port Rico (United States). Tyco is a diversified company located in the United States that designs, manufactures and distributes electrical and electronic components, fire detection systems, medical supplies and undersea fibre-optic cable communication systems.