Movistar – the new mobile phone company created from Telefónica Móviles’ purchase of BellSouth’s former subsidiary Movicom Argentina – will invest ARS450 million (USD150 million) in Argentina this year according to company officials. The expenditure will go toward improving and expanding its network. Eduardo Caride, a company director, has confirmed that the merged cellco will continue with both Móviles’ existing GSM network in the country as well as the CDMA network it acquired when purchasing Movicom. All growth will come from the GSM network however, with Caride saying only that ‘we’ll keep CDMA alive for those that prefer it’. The director expects there to be around 24 million wireless subscribers in Argentina by the end of 2008, up from approximately 13.5 million at the end of 2004.