AM’s Dominican unit to spend around DOP12.6 billion in 2011

20 Jan 2011

The Dominican Republic subsidiary of Latin American mobile giant America Movil has announced that it expects to invest around DOP12.6 billion (USD333 million) in 2011. According to Listinidiario.com, the unit, which currently operates under both the Claro and Codetel Dominicana banners, also revealed that from April 2011 it would no longer use the Codetel moniker, instead switching solely to the Claro brand in line with its parent company’s overarching group strategy. Oscar Pena, Claro Dominicana’s president, noted that having donated around USD200 million to support Haiti’s reconstruction in 2010 following the earthquake there it also spent around DOP9 billion on its domestic operations that year. This years’ investment is expected to be directed towards the development of new technologies, the executive said.

Dominican Republic, Claro Dominicana (Codetel)