The United Arab Emirates' largest telecom, Etisalat, and Spain's Telefonica say they have signed a wide-ranging deal to cooperate across several business areas.
The companies say the deal covers collaboration on technological standardization, research and development and the implementation of new services, among other areas. The statement was sent by Etisalat on Sunday but dated July 21.
The two companies say the agreement will help them compete better in their own markets by increasing efficiency, boosting innovation and cutting costs.
The deal takes effect immediately. Financial terms were not disclosed.