America Movil bags new wireless licence

1 Apr 2005

The Peruvian privatization agency ProInversion has awarded a 20 year wireless licence to America Movil subsidiary Sercotel, which will pay USD21.1 million for the concession. The auction is part of an effort by the government to increase competition in the mobile telephone sector, which is dominated by Telefonica. Since Telefonica’s acquisition of BellSouth’s Latin American assets late last year, it has controlled around 70% of the Peruvian market, leaving competitors TIM Peru and Nextel to share the remainder. The merger of Telefonica and BellSouth’s networks in Peru are expected to gain regulatory approval later this month.

Peru, America Movil (AM)