America Movil earmarks USD3 billion for Ecuador

26 Aug 2008

America Movil (AM) plans to invest USD3 billion in its Ecuadorian cellular unit Porta over the course of its new 15-year licence period, or an average of USD200 million annually, reports Reuters. Local mobile market leader Porta, which officially signs a renewal of its operating concession today, says it aims to boost mobile coverage in rural areas and bring newer technology to its seven million-plus subscribers.

Ecuador, America Movil (AM), Claro Ecuador (Conecel)