Slim promises Argentinian investment

16 May 2007

Mexican businessman Carlos Slim, who controls Latin American über-cellco América Móvil has told an Argentinian government minister that he intends to invest around USD400 million per year in broadband internet and cellphone projects. It was unclear as to how many years this annual investment forecast would apply. No further details of the conversation Slim held with Planning Minister Julio De Vido were released. America Movil currently controls one of Argentina’s largest cellular operators, CTI Móvil, which according to TeleGeography’s GlobalComms database had a 33% share of subscribers at the end of 2006, with just over ten million users on its books.

Argentina, Claro Argentina