Claro to invest USD800 million in 2010

2 Mar 2010

Argentina’s leading mobile operator by subscribers, Claro, plans to invest around USD800 million in 2010, compared to total capital expenditure of USD700 million last year, BNamericas reports, citing local newspaper La Nacion. According to Claro’s president, Carlos Zenteno, roughly 70% of the CAPEX will be ploughed into the company’s third-generation and fibre-optic networks in order to support increasing demand for advanced services. Zenteno added that 3G subscribers comprise around 20% of Claro’s approximately 17 million wireless customers, while the 3G network reaches 450 cities, covering 80% of the population. According to TeleGeography’s GlobalComms Database, Claro Argentina, formerly known as CTI Movil, is made up of three Argentinean companies – CTI Holdings, CTI Interior and CTI PCS – which are collectively owned by Mexican group America Movil (AM). It was originally owned by US telco Verizon Communications, which decided to exit Argentina following the economic crisis of 2001-2. AM took control of 64% of CTI in October 2003 and by the following July had upped its stake to 100%.

Argentina, Claro Argentina