Verizon Communications Corporation Dominican Republic
From Wikipedia, the free encyclopedia
| Verizon Communications, Inc. | |
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| Type of Company | Public (NYSE: VZ) |
|---|---|
| Founded | Merger of Bell Atlantic & GTE in 2000 |
| Headquarters | Santo Domingo, Distrito Nacional, Dominican Republic |
| Key people | Ivan Seidenberg, CEO & Chairman Lawrence Babbio, Jr., President & Vice-Chairman |
| Industry | Communications Services |
| Products | Local wireline and wireless telecommunication services, Internet services |
| Revenue |  $75.1 billion USD (2005)[1] |
| Employees | 216,704 |
| Slogan | Avanzando Juntos Día a Día (wireline) and Trabajando para tí Día a Día (wireless) |
| Website | www.verizon.com.do |
The Verizon Communications Corporation Dominican Republic is the largest telecommunications company in the Dominican Republic providing local, long-distance, and wireless voice services, together with advanced data services, to approximately a million customers.
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[edit] Company Background
Previously known as CODETEL (Compañia Dominicana de Telefonos), the name change was announced February 2, 2004 at the National Theater of Santo Domingo in a ceremony to welcome the Verizon brand to the country. Verizon Communications (NYSE: VZ) owns 100% of the company, which is the leading local, long-distance and wireless telephone service provider in the Dominican Republic. Verizon Communications is one of the world's leading providers of communications services, with approximately $75.1 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe.
[edit] CODETEL History
CODETEL began telephone service in the Dominican Republic during the 1940s as a subsidiary of the US firm General Telephone and Electronics (GTE), and held a de facto monopoly until the mid 1990s. After the Dominican government passed Law 153 in 1998 providing for efective liberalization and improved pro-competition regulation, new entrants had eroded CODETEL's predominant position with the incumbent capturing only 50% of the international traffic to the United States (accounting for 70% of the total international traffic).[2] In 2000 Verizon was formed after a merger by Bell Atlantic and GTE, with CODETEL continuing operations as a subsidiary of the new company. During November 2003 CODETEL selected Nortel Networks (NYSE/TSX: NT) to provide voice over IP (Internet Protocol) network intended to converge voice and data traffic, help drive lower operating costs, and provide advanced services throughout the country.[3] During December of the same year CODETEL announced the commercial launch of its Flash Movil 3G network, a CDMA2000 1X voice and high-speed data network using equipment, software and services from Lucent Technologies. With this 3G network, Codetel offers subscribers new data services such as high-speed instant messaging, e-mail and Internet access at speeds of up to 144 kilobits per second (kbit/s). Also, the use of compression software in the network allows Codetel network users to reach speeds of up to 1 Megabit per second for data transmission.[4]
[edit] Management
The Current President of Verizon in the Dominican Republic is Jorge Ivan Ramirez, who is a native of Medellín, Colombia, and has more than 20 years experience in the telecommunications industry. He previously was general manager of Diveo de Colombia LTDA, a telecommunications company based in Bogotá, Colombia, that provides local voice and data services utilizing fixed wireless broadband. Ramirez played a significant role in the start-up of the company, including development of its Internet Protocol connectivity products and network construction. Ramirez also held several key sales and managerial positions with AT&T Networks in Colombia and Venezuela, as well as the position of vice president at CELUMOVIL, S.A., one of two companies awarded a joint wireless license serving Central Colombia. Ramirez is responsible for all of the CODETEL's wireline and wireless operations, which serve 707,000 access lines, 320,000 cellular subscribers and 124,000 paging customers.
[edit] Notes
- ^ Verizon (26 January 2006). Verizon Communications Reports Strong 4Q 2005 Results, Driven by Continued Growth in Wireless and Broadband. Press release.
- ^ Institutions, Performance, and the Financing of Infrastructure Services in the Caribbean, World Bank Working Paper No. 58, 2005
- ^ CODETEL, Nortel Networks to Deploy Voice Over IP Network in Dominican Republic, Nortel Networks November 13, 2003
- ^ Codetel and Lucent launch 3G mobile network in Dominican Republic, www.3GNewsroom.com, December 4, 2003
