Paraguay State Owned Telco Buys Local Mobile Network
Published on: 12th Jul 2010
Note -- this news article is more than a year old.
Paraguay's state owned telecoms network operator, Copaco has announced that it has brought the local mobile network, Hola Paraguay, which trades as Vox for an undisclosed amount. The company said that it aims to boost the subscriber base to 500,000 customers by the end of this year, and 2 million customers within five years.
According to figures from the Mobile World analysts, the company had 432,000 subscribers at the end of March 2010. This represented a market share of 7.3%.
The company aims to help boost the subscriber base by providing free SIM cards to its 360,000 landline customers, and expects to be able to convert around 100,000 into paying subscribers. In addition, the goal is to reach 1 million landline subscribers between basic and fixed wireless for the five-year period beginning in 2008.
Although the government hasn't confirmed the price paid, local media reports suggest that it was in the region of just USD3 million. Hola Paraguay was 70% owned by Japan's KDDI Corp.