This study’s primary goal is to examine the elements that affect customer loyalty and satisfaction with Portuguese telecommunications. Indeed, customer loyalty and satisfaction are crucial factors in guaranteeing the success and expansion of the services sector. Furthermore, it aims to include customers’ privacy perceptions in a thorough model. A structured questionnaire was adapted from previous studies in the field, collecting a total of 357 valid responses. The suggested hypotheses were tested using multiple statistical techniques to assess the reliability and validity of the gathered data, culminating with path analysis through Structural Equation Modelling. The research results demonstrate that consumer loyalty is highly impacted by satisfaction. On the other hand, service quality significantly influences customer satisfaction, whereas trust and perceived value have a positive yet insignificant impact on this construct. Additionally, perceptions of privacy risk were found to affect customer trust positively and significantly. Considering that the data used for this analysis were collected exclusively in the Portuguese market, inferring the same findings in different countries should be made prudently. As this study only comprised of one of the perceived value dimensions, the results associated with this construct should also have that in mind.