Core Insights - The "Portugal Telecom Operators Country Intelligence Report" provides a comprehensive overview of the telecommunications market in Portugal, including forecasts up to 2029 [1] - The report highlights key opportunities, competitive dynamics, and demand evolution across various service types and technologies [1] Market Highlights - The overall telecom and pay-TV services revenue in Portugal is projected to grow at a CAGR of 1.4% from 2024 to 2029, driven by mobile data and fixed broadband segments [6] - Mobile data service revenue is expected to grow at a five-year CAGR of 5.6%, fueled by increasing 5G adoption, rising mobile broadband subscriptions, and demand for high-speed data services [6] - Fixed broadband service revenue is forecasted to grow at a CAGR of 1.7%, supported by fiber subscription gains due to government and telecom network expansion efforts [6] Operating Environment - The report includes a review of the regulatory environment and trends, focusing on spectrum licensing, DTT migration, and IoT regulations over the next 18-24 months [6] Telecom Services Market Outlook - Detailed analysis of service revenue from fixed telephony, broadband, mobile voice, mobile data, and pay-TV markets is provided, along with historical figures and forecasts [6] Competitive Landscape - The report examines the positioning of leading players in the telecom and pay-TV services market, including subscription market shares across segments [6] - Company snapshots analyze the financial positions of major service providers such as MEO, Vodafone Portugal, NOS, Lycamobile, and NOWO [8]

Core Insights - Crédit Coopératif has signed a memorandum of understanding with Orange for the potential acquisition of fintech Anytime, aligning with its 2030 strategic plan "100% committed" [1][4] - The acquisition aims to enhance Crédit Coopératif's digital offerings, particularly for small and medium-sized associations, leveraging Anytime's innovative services [2][5] - Discussions initiated with Orange Bank are expected to support Anytime's evolution in the Social and Solidarity Economy markets [3][4] Company Overview - Crédit Coopératif is a cooperative bank focused on environmental and social transitions, serving clients such as cooperatives, SMEs, and non-profit organizations [7] - The bank aims to strengthen its presence in the association market and achieve a market share of over 6% among newly created associations by 2030 [8] Strategic Goals - The acquisition of Anytime is part of a broader strategy to build a 100% digital offering tailored to small associations [8] - Crédit Coopératif plans to enhance dedicated services for large Social and Solidarity Economy organizations, including advanced expense management tools [8] Anytime Overview - Founded in 2014 and a subsidiary of Orange Bank since 2020, Anytime specializes in account management and payment services for professionals and associations [5] - The fintech has developed tailored solutions for associations, including advanced expense management tools [5] Social Process - Employee representative bodies within both the Orange Group and Crédit Coopératif are being consulted regarding the acquisition, with a potential completion date set for the end of 2025 [6]

Core Viewpoint - The report from CICC suggests that A-shares are likely to experience a "good start" after the holiday due to marginal improvement in the performance of listed companies in the first quarter and positive external factors during the A-share market closure [1] Group 1: Market Performance - A-share companies showed marginal performance improvement in Q1 [1] - Positive external market conditions, including better performance of Hong Kong and US stocks during the A-share market closure, are expected to influence A-shares positively [1] Group 2: Investment Recommendations - Focus on sectors with recovering demand and low tariff impact, such as AI development, cloud computing, and robotics [1] - Consider export sectors with low exposure to the US, including engineering machinery, power grid equipment, and commercial vehicles [1] - Highlight high cash flow and low external demand correlation sectors, such as hydropower, telecommunications, and leading companies in the food and beverage industry [1]

Group 1 - U Mobile has appointed Huawei and ZTE as technology partners to jointly deploy Malaysia's next-generation 5G network under a dual-network model [1][3] - The goal is to achieve 80% coverage in densely populated areas within the first 12 months and 90% coverage in the following 12 months, focusing on key sectors such as transportation hubs, healthcare, sports facilities, smart cities, and data centers [3] - U Mobile plans to finance the deployment of the second 5G network through a combination of internal funds, bank loans, supplier financing, and future IPO proceeds [4] Group 2 - U Mobile has invested over 8 billion ringgit (approximately 1.32 billion RMB) in network and technology infrastructure, with more than 10,000 network sites established [4] - U Mobile holds a 19% market share in Malaysia, while competitors CelcomDigi and Maxis hold 50% and 37% respectively [4] - The wholesale pricing for the 5G network is expected to be similar to the current rates set by the national digital company (DNB) [4] Group 3 - Huawei is recognized as a global leader in the 5G market, holding the highest number of 5G patents worldwide, and is committed to delivering a customized 5G-A network experience [4] - ZTE expressed its enthusiasm for being a technology partner and contributing to the development of Malaysia's telecommunications industry from 2G to 5G [5] - In March, CelcomDigi signed a memorandum of understanding with Huawei and ZTE to enhance digital experiences in Malaysia through advanced AI and next-generation connectivity technologies [6]