Spanish telecoms group Telefonica plans to invest ARS10 billion (USD2.04 billion) in its Argentine business over the next two years, with the aim of boosting its wireless and broadband networks in the country. Dow Jones Newswires cites a company statement as saying that the firm plans to establish a further 1,000 fibre-optic nodes in order to offer 40Mbps broadband to residential customers, and to facilitate direct fibre connections for business and government clients. In a bid to meet rising consumer demand for wireless services, mobile unit Telefonica Comunicaciones Personales Argentina (operating under the Movistar brand) plans to boost voice and data transmission capacity by increasing its nodes by 80% to 7,500. TeleGeography’s GlobalComms Database states that Movistar is Argentina’s third largest mobile operator by subscribers, with a customer base of 17.3 million at 30 September 2012, just behind market leader Claro with around 20.1 million and Telecom Personal with 18.9 million. In the fixed broadband market, however, Telefonica de Argentina is the leading operator in terms of subscribers, reporting over 1.7 million customers at the end of Q3 2012.