Slim earmarks USD400 million for Argentina in 2006

4 Nov 2005

Mexican telecoms magnate Carlos Slim plans to invest a total of USD400 million in Argentina in 2006 to expand and upgrade fixed and mobile networks, according to BNamericas. Slim, the head of fixed line group Telmex and mobile giant América Móvil (AM), has earmarked USD250 million for AM’s Argentine unit CTI Móvil and a further USD150 million for wireline service provider Telmex Argentina. Slim added that Telmex Argentina and CTI would not raise their prices in 2006 and that rates would remain the same as long as interconnection costs did not rise.

Argentina, Claro Argentina, Telmex Argentina (Claro)