Telefonica confirms investment plan for Latin America

9 Oct 2008

BNamericas is reporting that Spanish telecommunications group Telefonica has confirmed its investment plan for Latin America. The group, which has operations in 13 Latin American countries including Brazil, Argentina, Mexico, Chile, Peru and Colombia, expects investment to be EUR14 billion-EUR16 billion (USD19 billion- USD22 billion). In a statement the group noted that, ‘We have confidence in the region and our future investments remain unchanged as we expect to continue expanding our networks.’ The group’s CAPEX during the first half of 2008 was EUR3.45 billion, a 7.5% increase on the EUR3.2 billion in the same period last year. By comparison, CAPEX in Latin America reached EUR1.5 billion in the 1H 2008, a 32.5% increase on last year.

Spain, Telefonica