Telefónica pledges EUR10bn for Latin American expansion

19 Oct 2006

Spanish telecoms giant Telefónica has reiterated its desire to remain at the forefront of the communications markets in Latin America by pledging EUR10 billion (USD12.6 billion) worth of investment in the region between now and 2009. Telefónica says it has spent around EUR45 billion on its Latin American operations over the past 15 years and around 56% of the group’s customers are based in the region.