América Móvil to invest USD1.4 billion in 2004

28 Nov 2003

Mexico’s América Móvil has pledged to invest up to USD4.1 billion in its networks in 2004, and reduce its USD2.7 billion debt by a third. The telco, which expects to have spent around USD1.3 billion in 2003, said that the majority of its 2004 capex will go towards expanding its Brazilian operations, with USD500 million earmarked for Mexican unit Telcel. The company has operating subsidiaries in Mexico, Brazil, Argentina, Guatemala, Colombia, Nicaragua, Ecuador and El Salvador, and claimed a venture customer base of 37.6 million at the end of September.

Mexico, America Movil (AM)