The Chilean and Argentine units of Spain’s Telefónica Móviles, currently undergoing re-branding under the Movistar banner, have both revealed substantial investment budgets for the rest of this year to expand GSM coverage, complete the unification of formerly separate networks and ‘consolidate’ the new brand name. Movistar Argentina (representing the merged operations of Telefónica Comunicaciones Personales [Unifón] and Movicom BellSouth Argentina) said it has earmarked USD150 million this year to invest in its network, whilst Movistar Chile (formed from a merger of Telefónica Móvil de Chile and BellSouth Chile) reported a budget of USD170 million for the rest of 2005.
TEM is in the process of unifying its wireless subsidiaries in 13 Spanish-speaking countries under the Movistar brand. In Spain, the new Movistar image and name was given an official nationwide launch yesterday. The EUR75 million launch involved an advertising campaign, the change of logo on all company materials, and the holding of various promotional events.