Telefonica Invests US$224mn in Local Ops in First 9mths
Spanish telecom giant Telefonica invested US$224mn in its Venezuelan operations in the first nine months of 2007, local press reported.
The telecom's unit operates through Movistar in Venezuela and reported some 9.8mn clients at end-September, up 22.6% compared to same time last year, the report said.
Local telecoms regulator Conatel reported last August that Movistar had a leading market share with 41.6%, followed by Movilnet with 40.8% and locally owned Digitel with 17.6%.
At the end of October, Movistar and Movilnet both won spectrum blocks in the 1900MHz band. The spectrum was awarded to meet growing demand for mobile telephony and pledges on quality of service, coverage and rates.
Posted to the site on 16th November 2007
