Telefonica profit up in 2005

27 Feb 2006

Telefonica de Argentina has reported a net profit of ARS767 million (USD249 million) for the full year 2005, up from ARS8 million a year earlier. The operator attributed the turnaround to the higher value of the peso against the US dollar. It plans to invest ARS1 billion in developing its broadband and mobile networks during 2006.

Argentina, Telefonica Argentina (Movistar)