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América Móvil to spend $5.4bn in Brazil
30 December 2011
Investment of $5.4bn will include cable to US, improved networks and bids for 4G spectrum
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Brazil
América Móvil
Claro
Emratel
Carlos Slim
Carlos Slim’s América Móvil will spend $5.4 billion in 2012 on its Brazilian subsidiaries, according to the local reports. The firm’s Brazilian units include fixed-line operator Embratel, cable TV company Net and Brazil's number three mobile operator Claro.
Claro Brasil president Carlos Zenteno told the newspaper Folha de Sao Paulo that it will spend $540 million for the construction of a submarine cable that will connect Brazil and the US. The company will also expand its fibre optic network and offer enhanced internet coverage for 3G customers. Some of the money will also be invested in bidding for 4G frequencies in April 2012.
Zenteno added that Claro, Embratel and Net will also offer bundled services next year. GTB
Further reading from Global Telecoms Business:
3i acquires Brazilian broadband stake 23 Dec 2011
Telefónica to buy Brazilian cable TV firms 25 Oct 2011
Embratel to take majority in cable operator 23 Aug 2011
America Movil invests $1.19bn in Brazil 21 Jun 2011