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Telefonica to Invest €14-€16 billion in Latin America by 2010

Telefonica, Spanish incumbent, will invest between €14 billion and €16 billion in Latin America through 2010, or half of its planned total investment for the period, company CEO Cesar Alierta revealed on Friday.

Telefonica is facing an improved regulatory framework in Latin America, which will contribute to promot[ing] investment and growth in the region," said Alierta at the Foro Latibex in Madrid, according to a company statement.

Describing the region as a "real growth engine for the company", Alierta noted that the Spanish incumbent derives 35% of its consolidated revenues from Latin America and 58% of its total customer base.

"Latin America provides the company with a different profile compared with the other major world operators," said Alierta.

As of September, Telefonica's Latin American business is showing incremental organic revenue growth of 12.6%, making it the largest contributor to the group's revenue growth with 4.2 percentage points.

Alierta concluded by noting that the principal economies in the region are all growing, and their telecommunications sectors in particular are showing particularly impressive growth, at average rates of 7.8% per year.


Source:
http://www.totaltele.com/View.aspx?ID=96802&t=2

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