Telecom Argentina issues 2008 guidance

13 Aug 2008

Telecom Argentina has announced that it expects CAPEX for 2008 to reach approximately 15% of revenues, reports BNAmericas citing comments made by company finance director Pedro Insussarry during a conference call. ‘Our budget for investments this year totals approximately ARS1.6 billion (USD527 million),’ the executive said, before adding: ‘For 2009 we are also expecting a similar level of CAPEX compared to this year’. Revenues for 2008 are forecasted to grow 20% year-on-year to more than ARS10 billion.

Argentina, Telecom Argentina (incl. Cablevision)