AM to invest USD1.2bn in Brazil’s Claro this year

Mexico-based regional powerhouse America Movil (AM) plans to invest BRL1.9 billion (USD1.2 billion) in its Brazilian mobile unit Telecom Americas (Claro) this year. Dow Jones Newswires cites local paper Brasil Economico as saying the investment is designed to shore up its existing market share in a competitive market. It is understood that the majority of the firm’s 2011 investment will be ploughed into data to cater for an explosion in demand for smartphones and bandwidth-hungry services.