America Movil to invest US $880 million in Peru

Isabel Guerra

America Movil to invest US $880 million in PeruMexican-based America Movil will invest some US$880 million in increasing its coverage and implementing new techologies, facing the growing demand, said a spokesperson in Lima.

The firm, owned by Mexican millionaire Carlos Slim, operates telephonic services in Peru under the companies Claro and Telmex.

“$500 million will be spent on mobile technology and $380 million to landlines, Humberto Chavez, Claro Peru’s Director said.

The company official explained that this investment was to be made with the company’s resources, and also with the participation of some local financial institutions.

According to Chavez, the company is seeking to grow in new segments in the business, like data, mobile internet and services such as digital TV, interactive TV and business plans.

America Movil owns 71 percent of Mexico’s wireless market, and has operations in Brazil and Chile, among other countries.

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