Telefónica earmarks USD600 million for investment by 2009

29 Nov 2006

Telefónica plans to invest USD600 million in its mobile telephony and broadband services in Peru by 2009, reports BNamericas citing local daily El Peruano. Of the total investment figure, USD200 million is expected to have been spent by the end of this year, with USD250 million earmarked for 2007. Two-thirds will go to the company’s wireless arm Movistar Perú while the remaining USD200 million will be set aside for broadband internet services, run by the company’s local fixed line unit Telefónica del Perú (TdP). TdP aims to close 2008 with 640,000 broadband connections compared to the nearly 360,000 registered at end-2005.

Peru, Telefonica del Peru (TdP, Movistar)