HONGKONG Telecom CSL has teamed up with Tele-Direct Publications International to capture a big slice of the territory's telephone directory business, estimated to be US$1 billion over the next 10 years.
Telecom Directories is owned 51 per cent by Hongkong Telecom CSL and 49 per cent by Tele-Direct.
This marks the first foray into the Hong Kong market for Tele-Direct, a subsidiary of Bell Canada Enterprises.
The alliance also concludes a relationship of more than 25 years between Hongkong Telecom CSL and GTE Publishing of the United States, the previous partner on the telephone directories.
''It's a sort of transition not unusual in business,'' said Hongkong Telecom CSL managing director Ian Stone.
The change was in line with the group's strategy to become more competitive by being user-friendly and innovative, he said.
''In the '90s, Hongkong Telecom reviews its whole approach in the marketplace, as there is more competition in every part of the telecommunications industry.