Telcos promise to invest a billion dollars in 2008

4 Jan 2008

Argentina’s largest telecoms operators expect to invest approximately ARS3.5 billion (USD1.11 billion) in 2008, mainly on broadband and mobile network infrastructure, according to a report in local newspaper Infobae. Former incumbents Telecom Argentina and Telefonica de Argentina (TdA) plan to invest ARS1 billion and ARS1.7 billion respectively. Telecom’s investment will match that made in 2007. TdA has earmarked ARS950 million for its fixed line business and another ARS650 million on its Movistar mobile operation, much of which will go on expanding its recently launched 3G network. Meanwhile CTI Movil, the local subsidiary of Mexico’s America Movil which also launched 3G services in 2007, expects to invest around ARS850 million this year, according to the report.