Compañía Peruana de Teléfonos

Compañía Peruana de Teléfonos, commonly known as CPT, was a Peruvian telecommunications operator whose business was concentrated in the cities of Lima and Callao. Its corporate history began in 1920, when Compañía Peruana de Teléfonos Ltda. was established. The company subsequently absorbed or combined with the British Peruvian Telephone Company, a business whose origins dated to 1888. At the time, Peru's telephone network was small by modern standards: the country had approximately 4,000 telephones and service was provided through manual exchanges. The company became associated with International Telephone and Telegraph Corporation, or ITT, after ITT acquired 60 percent of its shares in 1930. That period brought important technical changes, including the opening in December 1930 of Lima's first automatic telephone exchange on Jirón Washington. The exchange had capacity for an additional 2,000 lines and represented a shift away from fully manual switching. CPT was nationalized by the Revolutionary Government of the Armed Forces of Peru on March 25, 1970. In 1973, the state expropriated CPT and reorganized the country's telecommunications responsibilities alongside Empresa Nacional de Telecomunicaciones, commonly known as Entel Perú. Entel assumed services in much of the interior and incorporated the Peruvian operations associated with ITT and Ericsson, while CPT retained responsibility for the metropolitan Lima area. CPT continued to modernize its network, beginning operation of a microwave network in 1974 and implementing an optical-fiber link network in 1985. The operator also developed consumer-facing services beyond conventional fixed telephony. In 1981 it introduced a dedicated coin, known as the Rin, for use in public payphones, with the stated purpose of reducing theft. In 1993, during the move toward privatization, CPT became a public limited company and launched Cable Mágico, a cable-television business. The company also established CPT Celular to pursue mobile telecommunications; reference material dates this initiative to the early 1990s, with the cellular business later associated with Telefónica's MoviLine operation. In 1994, the Peruvian government sold its shares in CPT together with those of Entel Perú to the Spanish telecommunications group Telefónica. Entel Perú was incorporated into CPTSA on December 31 of that year. Following the transaction and corporate consolidation, the former CPT operations became part of Telefónica's Peruvian business, later associated with the Movistar Perú brand. CPT therefore ceased to operate as an independent telecommunications brand. Its legacy lies in the development, modernization, nationalization, and eventual privatization of Lima's fixed-line telephone infrastructure.

The institutional history of Compañía Peruana de Teléfonos reaches back to the late nineteenth century, when the British Peruvian Telephone Company was founded in 1888. The CPT entity itself was created on June 25, 1920, as Compañía Peruana de Teléfonos Ltda., and later merged with the British Peruvian operation. Peru's telephone system was still very limited at the time, with roughly 4,000 lines nationwide and manual switching predominating. A major change occurred in 1930, when International Telephone and Telegraph Corporation acquired 60 percent of CPT. In December, CPT placed the first automatic exchange in Lima into service at Jirón Washington. The exchange could accommodate 2,000 additional lines and introduced automatic switching to a network that had previously relied on manual operation. The company was nationalized on March 25, 1970, by the Revolutionary Government of the Armed Forces of Peru. Three years later, the state reorganized the country's telephone system through CPT and Empresa Nacional de Telecomunicaciones, or Entel Perú. Entel assumed telecommunications services in the interior of the country, including the Peruvian branches associated with ITT and Ericsson, while CPT was assigned the metropolitan area of Lima. This division made CPT primarily a Lima and Callao operator rather than a nationwide carrier. During the 1970s and 1980s, CPT invested in network infrastructure and operating systems. It began operating a microwave network in May 1974 and implemented an optical-fiber link network in July 1985. The company also operated public telephones. In 1981, it introduced the Rin, a special coin designed for use in its payphones and intended to reduce theft. CPT entered a new institutional phase in 1993. Its president announced that the company had become a public limited company and that the state's shares would be offered to the private sector. That year CPT also diversified into cable television through the launch of Cable Mágico. The company pursued mobile communications through CPT Celular, a cellular subsidiary or initiative associated with the early 1990s. Reference material describes the cellular operation as later replaced or absorbed into Telefónica's MoviLine service after privatization. The decisive change came in 1994, under the government of Alberto Fujimori, when the state sold its shares in CPT and Entel Perú to Telefónica of Spain. Entel Perú was incorporated into CPTSA on December 31. The transaction consolidated Peru's principal state telecommunications operations under Telefónica and ended CPT's existence as an independent operator. Its subsequent business continuity was represented through Telefónica's Peruvian operations and, later, the Movistar Perú brand. CPT's historical importance is therefore tied to the expansion of Lima's telephone network, the introduction of automatic, microwave, and optical-fiber technologies, and Peru's transition from state ownership to private telecommunications control.

1. 1994Telefónica acquisition and consolidation

   Telefónica acquired the state's shares in CPT and Entel Perú; Entel Perú was incorporated into CPTSA on December 31.

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2. 1993Conversion to a public limited company and cable expansion

   CPT announced its conversion into a public limited company, the planned sale of state shares, and the launch of Cable Mágico.

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3. 1985Optical-fiber network implemented

   CPT implemented an optical-fiber link network in July.

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4. 1981Rin payphone coin introduced

   The operator introduced a dedicated coin for its public payphones to discourage theft.

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5. 1974Microwave network enters operation

   CPT began operating a microwave network in May.

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6. 1973Division of telecommunications responsibilities

   Entel Perú assumed interior services while CPT retained the metropolitan Lima area.

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7. 1970Nationalization

   The Revolutionary Government of the Armed Forces of Peru decided to nationalize CPT on March 25.

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8. 1930ITT takes a majority shareholding

   ITT acquired 60 percent of CPT's shares, and CPT opened Lima's first automatic exchange in December.

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9. 1920Compañía Peruana de Teléfonos is established

   Compañía Peruana de Teléfonos Ltda. was created on June 25.

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10. 1888British Peruvian Telephone Company is founded

    The British Peruvian Telephone Company, later connected with CPT's corporate history, was established in Peru.

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A metropolitan public-utility telecommunications operator serving Lima and Callao, with activities that expanded from fixed-line telephony into payphones, cable television, and mobile communications.

• Fixed-line telephone serviceFixed telecommunications1920

  CPT's core activity was the operation and expansion of fixed-line telephone services in metropolitan Lima and Callao. The network evolved from manual switching to automatic exchanges and later incorporated microwave and optical-fiber infrastructure. After the 1973 reorganization of Peru's state telecommunications system, CPT's geographic responsibility was concentrated on the Lima metropolitan area.

• Public payphonesPublic telecommunications1981

  CPT operated public payphones as part of its urban telephone network. In 1981 it introduced the Rin, a special coin intended for use in the company's payphones and designed to discourage theft. The initiative illustrates the operational challenges associated with maintaining public telecommunications equipment.

• Cable MágicoCable television1993

  Cable Mágico was CPT's cable-television business, launched in 1993 as the company diversified beyond fixed-line telephony during the transition toward privatization. The available reference material identifies the launch but does not provide detailed information about its programming, subscriber base, or later corporate structure.

• CPT CelularMobile telecommunications1991

  CPT Celular was CPT's mobile-telephone initiative. Reference material places its creation in the early 1990s and separately identifies 1994 as the year in which CPT created a subsidiary focused on mobile telephony. After Telefónica acquired CPT, the operation was associated with MoviLine and subsequently with the Movistar Perú business.

• 1994Sale to Telefónica and merger with Entel PerúM&A

  The Peruvian government sought to privatize its telecommunications operators and sold its holdings in CPT and Entel Perú.

  What changed. Telefónica acquired the state shares in both companies, and Entel Perú was incorporated into CPTSA on December 31.

  Aftermath. CPT ceased to operate as an independent brand within Telefónica's Peruvian telecommunications group. Its successor operations became associated with MoviLine and later Movistar Perú, while the transaction helped resolve the shortage of telephone lines in metropolitan Lima.

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• 1993Conversion and preparation for privatizationStrategy

  Peru began moving CPT from state ownership toward private-sector participation.

  What changed. CPT became a public limited company and announced that state-owned shares would be sold to private investors.

  Aftermath. The restructuring prepared CPT for its 1994 sale to Telefónica and coincided with expansion into cable television through Cable Mágico.

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• 1970Nationalization of CPTStrategy

  The Revolutionary Government of the Armed Forces of Peru took control of CPT as part of a broader policy of state ownership and intervention in strategic sectors.

  What changed. The government decided to nationalize the company on March 25, 1970.

  Aftermath. CPT subsequently operated within a state-controlled telecommunications structure and retained responsibility for metropolitan Lima after the 1973 reorganization.

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• 1994Telefónica acquires CPT and Entel Perú

  The Peruvian state sold its shares in CPT and Entel Perú to the Spanish company Telefónica. Entel Perú was incorporated into CPTSA on December 31.

  M&A
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• 1993CPT announces its transition toward privatization

  CPT became a public limited company and announced that state-owned shares would be sold to private investors. The company also launched Cable Mágico.

  Product launch
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• 1985CPT implements an optical-fiber link network

  An optical-fiber link network was implemented in July, marking a further technical upgrade to the company's telecommunications infrastructure.

  Product generation
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• 1981CPT introduces the Rin payphone coin

  CPT introduced a special coin for its public payphones, intended to discourage theft and support payphone operation.

  Product launch
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• 1974CPT begins operating a microwave network

  The operator began using a microwave network as part of the modernization of its metropolitan telecommunications infrastructure.

  Product generation
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• 1973CPT's metropolitan role is defined within the state telecommunications system

  Following expropriation and the reorganization of Peru's telecommunications entities, Entel Perú took responsibility for much of the interior while CPT continued serving metropolitan Lima.

  Regulation
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• 1970The Peruvian government nationalizes CPT

  The Revolutionary Government of the Armed Forces of Peru decided to nationalize CPT on March 25.

  Regulation
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• 1930ITT acquires a majority stake in CPT

  International Telephone and Telegraph Corporation acquired 60 percent of CPT's shares. In December of the same year, CPT placed Lima's first automatic exchange into operation.

  M&AProduct generation
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• 1920CPT is established in Peru

  Compañía Peruana de Teléfonos Ltda. was created on June 25, establishing the corporate entity that later became known as CPT.

  Other
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1. Compañía Peruana de Teléfonos