Telmex raises 2004 capex forecast

3 Dec 2003

Mexico’s dominant operator Telmex has raised its capital expenditure forecast for 2004 from USD1.2 billion to USD1.7 billion. The company is confident that the Mexican economy will recover next year and plans to spend around USD1.5 billion expanding its infrastructure and modernising its current voice and data portfolio, with a further USD207 million earmarked for the acquisition of AT&T Latin America. Last month a US bankruptcy court approved the sale of AT&T Latin America to Telmex for USD171 million and the assumption of USD36 million of debt.