Telecom America (Claro) to invest USD1.1 billion in 2008

25 Oct 2007

America Movil’s Brazilian mobile unit Telecom America (Claro) plans to invest upwards of BRL2 billion (USD1.1 billion) in its networks and services, reports Reuters quoting the Mexican parent’s boss Carlos Slim. ‘Claro is investing a lot, increasing its capacity, its national presence. Above all now, in the third generation, investments are very important’, he said. Claro held a 24.8% share of the domestic mobile market at the end of September, behind Vivo, a joint venture between Telefonica and Portugal Telecom, and TIM Brasil, Telecom Italia’s Brazilian subsidiary.