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Peru plans $260m telecom investments
22 February 2010
The government of Peru is planning a $260 million package to stimulate rural investment in mobile telecoms
The Peruvian government may invest $260 million over the next five years to boost rural telecom coverage. The country is planning to increase coverage in the country’s villages through the investment.
The country’s telecom development fund, Fitel, will provide the financing between 2010 and 2014. In January 2009, Telefónica del Perú, a subsidiary of the Spanish telecom giant, planned to invest $1.5 billion in Peru between 2010 and 2013.
Fitel — Fondo de Inversión en Telecomunicaciones — is part of the Ministry of Transport and Communications.
Peru’s private investment promotion agency, ProInversión, was expected to grant a mobile licence in the 1900 megahertz band in 2009, but two bidders pulled out due to the global financial crisis.
Peru’s mobile market providers are Claro, a unit of Mexico’s América Móvil, Telefónica’s Movistar Perú, and Nextel, which is a subsidiary of Virginia-based NII Holdings. GTB