Spain's Telefonica Moviles To Invest $180 Million In Colombia In '09

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Samedi 21 nov 2009 | 06:34:37

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Spain's Telefonica Moviles To Invest $180 Million In Colombia In '09

BOGOTA -(Dow Jones)- The Spanish telecommunication giant Telefonica SA (TEF) will invest 465 billion Colombian pesos ($180 million) to expand its mobile telephone network in the Andean country.
The company plans to expand the coverage of its GSM and 3.5G networks, according to a statement sent on Monday.
The plan is to put 30 million people and 67% of the country in the range of the 3.5G service, which uses the technology known as High Speed Downlink Packet Access.
Telefonica is the second-largest mobile telephone operator in Colombia. The company holds a 24.5% market share in the country and competes with the local unit of Mexico's America Movil SA (AMX) and the local unit of Millicom International Cellular SA (MICC), which respectively control 66.3% and 9.2%.
-By Inti Landauro, Dow Jones Newswires; 57-1-610 70 44 Ext. 1131; colombia@dowjones.com
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