Telefonica to invest USD1.9bn in 2014/15

13 Dec 2013

Spanish telecoms group Telefonica plans to invest ARS11.7 billion (USD1.9 billion) in its Argentine fixed and mobile operations over the next two years, TeleSemana cites Telefonica de Argentina’s president Luis Blasco as saying. Of that total, around ARS5.2 billion will be spent on increasing internet connection speeds, the deployment of fibre-optic infrastructure and the installation of new cell sites. The funds will also be used for the development of new platforms and services, with Blasco noting: ‘Telefonica expects to consolidate its growth through the development and combination of different technologies that aim to offer the customer a connection according to their browsing needs.’ The company said that total investment for 2013 reached ARS4.1 billion, adding that mobile unit Movistar will end the year with over 8,000 base stations on its network.

Argentina, Telefonica Argentina (Movistar), Telefonica Moviles Argentina (Movistar)