Slim to invest USD1 billion in Argentina

17 May 2011

Mexican telecoms entrepreneur Carlos Slim will invest USD1 billion in Argentina by the end of 2012, according to a report by Reuters which cites the Argentine government. Slim’s America Movil (AM) owns Claro Argentina, formerly known as CTI Movil, the country’s largest mobile operator by subscribers with around 18.4 million users at the end of 2010 (corresponding to a market share of 35.4%), according to TeleGeography’s GlobalComms Database. Last month newspaper Pagina 12 quoted Argentina’s Planning Minister Julio de Vido as saying Slim was expected to announce an investment of about USD1.5 billion in Argentina, with a focus on developing cellular, broadband and 4G technologies.

Argentina, America Movil (AM), Claro Argentina