Telecommunications firms Deutsche Telekom AG, Telefonica SA, Vodafone Group PLC and Orange SA said that they will form a joint venture to implement a privacy-by-design digital marketing technology platform in Europe.
The companies said that the creation of the joint venture was approved on Friday by the European Commission.
Each of them will own an equal 25% stake in the JV holding company.
The JV will be based in Belgium, and run by independent management with the oversight of a shareholder appointed supervisory board.
On the marketing technology platform, the firms said that it is specifically designed to offer consumers control, transparency and protection of their data. It has been designed to be compliant with European data protection policy.
The telecommunication firms have already initiated a trial for the platform in Germany. Other trials are currently being considered in France and Spain to further develop the platform. It is intended to be made available to any operator within Europe.
Finally, the companies stated that the joint venture will outline its vision and strategy "in due course".
They did not disclose any financial details about the JV.
Shares in Deutsche Telekom closed down 0.1% at EUR20.14 each in Frankfurt on Friday afternoon. Telefonica closed up 1.0% at EUR3.56 in Madrid. Meanwhile, Vodafone finished up 0.5% at 91.76 pence in London and Orange up 1.3% at EUR9.69 in Paris.