AMX: LatAm Mobile Penetration of 70-75% in 3yrs is "reasonable"

Mobile telephony penetration in Latin America could reach 70-75% within the next three years, Mexican giant América Móvil's CEO Daniel Hajj said in an investor conference call.

"I think that in two or three years an average of 70-75% would be reasonable. Maybe some countries could go into the eighties and other countries stay in the sixties," Hajj said.

The executive stressed that mobile telephony penetration in Colombia, which is AMX's third largest market, is nearly 70%, the highest penetration rate in the region.

América Móvil's Comcel unit in Colombia opted for a less aggressive commercial policy, according to América Móvil. The company added 786,000 new subscribers in the third quarter, less than previous quarters, to end September with 18.8 million clients. Comcel maintained its market share in the quarter at 64%.

AMX saw a 139% rise in third quarter net profits to 10.9bn pesos (US$992mn) compared to 4.59bn pesos in 3Q05 boosted by strong subscriber additions, BNamericas previously reported.

BNAmericas.com"

Posted to the site on 31st October 2006