CNT to sink USD40m into Alegro in a year

6 Apr 2010

Ecuadorian state-run fixed line telco Corporacion Nacional de Telecomunicaciones (CNT) plans to invest USD40 million into mobile operator Telecsa (Alegro PCS) over the next year, BNamericas reports, citing local newspaper El Comercio. Last week Ecuador’s President Rafael Correa confirmed that CNT will absorb the already government-owned Alegro, a process which CNT’s president Cesar Regaldo says will take around two months. Total investment over three years will reach approximately USD100 million, most of which is earmarked for deploying 3G UMTS infrastructure, according to the report. This week, Alegro’s board will decide on the next steps in the bidding process to select the main supplier for its UMTS network. Meanwhile, CNT has said it expects its total investment for 2010 to reach USD256 million.