SingTel signs with Telefónica

Singapore Telecom (SingTel) has signed an agreement with Spain's Telefónica (NYSE: TEF) to offer services in Panama, local newspaper El Crítica reported. The initiative will enable SingTel to offer services through virtual networks using Telefónica's network in the area. "The reach of SingTel in Latin America will be strengthened through interconnection with networks not only in Europe but in the US," SingTel corporate marketing VP Thomas Yeo was quoted as saying. SingTel will be able to offer telecoms services on networks terminating in countries where Telefónica has its infrastructure. The Spanish telco is currently awaiting completion of its purchase of the assets of BellSouth Latin America, on which some of SingTel's traffic would be carried.