Carlos Slim to invest USD5.4bn in Brazilian units

3 Jan 2012

Mexican regional telecoms powerhouse America Movil (AM), owned by billionaire Carlos Slim, plans to invest BRL10 billion (USD5.4 billion) in its Brazilian business assets in 2012. AM controls mobile operator Telecom Americas (Claro), fixed line operator Embratel and cable TV and broadband provider Net Servicos. As reported by CommsUpdate, in mid-December Claro said it was spending BRL3.5 billion in its networks this year, with a primary focus on enhancing and expanding its HSPA+ coverage. In the press release Claro confirmed its intention to roll out HSPA+ technology to all of its Brazilian users.