America Movil and Telefonica have announced significant investments in Peru over the next three years. Earlier this month, Mexico-based Movil revealed plans to spend USD1 billion in Peru, starting with a USD350 million expansion of fixed and wireless networks over the course of this year. Spanish-owned Telefonica, on the other hand has pledged to spend USD1.5 billion through 2013, but has not yet specified where it will spend the money. Both companies expressed that their confidence in the incoming government under Ollanta Humala was the basis for the weighty allocation of funds to Andean nation. A statement from Claro said that ‘because of the country’s economic stability and solid foundation in recent years, Claro is committed to bringing better communications to Peruvians.’ The President of Telefonica Peru, Javier Manzanares released a similar statement, saying that his company had intensified its efforts because it is ‘confident in the new government’.
According to TeleGeography’s GlobalComms Database, Telefonica and Claro are the largest telcos in the country by subscribers. At the end of March 2011, Telefonica claimed 52.9% of wireless subscribers, whilst Claro’s market share was slightly lower, at 42%.