Slim by name, large by investment; America Movil and Telmex to spend USD4 billion in 2009

9 Dec 2008

According to Reuters Mexican tycoon Carlos Slim has announced plans to invest almost USD4 billion in 2009 to expand mobile operations across Latin America and fixed line services in Mexico. Telmex, Mexico’s fixed line incumbent, is expected to spend up to USD950 million in 2009 in a bid to expand its fixed line network, and this figure could rise further if the operator is granted permission to offer triple-play services. Slim’s mobile group, America Movil, will invest approximately USD3 billion in the year, as it looks to expand and enhance its mobile infrastructure across Latin America.

Mexico, America Movil (AM), Telefonos de Mexico (Telmex)