MADRID -- Telenor and Telefonica will support each other's multinational customer (MNC) requirements in 22 countries. The agreement reinforces both companies' managed mobility solutions for multinational customers.

Telenor and Telefonica jointly announced today that they have signed a partnership agreement that will help both companies to support the requirements of their MNC customers in each other's markets, with focus on mobile services.

Telefonica serves more than 800 MNC customers through Telefonica Multinational Solutions, many of which require services in the Nordic countries. Likewise, Telenor serves a number of MNC and Corporate accounts that have requirements in the countries where Telefonica operates. The agreement was negotiated and signed by Telefonica International Wholesale Services on behalf of the Telefonica Group.

Under the terms of the agreement, Telenor will support Telefonica in Norway, Sweden, and Denmark, and Telefonica will support Telenor in the 19 European and Latin American countries where Telefonica currently has mobile operations (UK, Germany, Ireland, Spain, Czech Republic, Slovakia, Mexico, Brazil, Argentina, Chile, Colombia, Venezuela, Peru, Ecuador, Uruguay, Guatemala, El Salvador, Nicaragua, Panama).

The agreement defines how Telenor and Telefonica will collaborate and support each other in the multinational market, covering rules of engagement, bid management, products and services, SLAs, and operational processes and systems.

Telefónica SA (NYSE: TEF)

Telenor Group (Nasdaq: TELN)