Venezuelan mobile operator Movilnet implemented on August 15 its second phase of mobile rates cuts, completing the total 20% reduction announced earlier this year, state IT institute CNTI reported on its website.
Movilnet, a unit of Cantv, which was nationalized in May, introduced an initial 10% tariff cut on June 15.
The company is reducing rates for prepaid plans Coolcard and Productiva as well as its additional seconds plans.
The firm said that approximately 97% of its subscribers would benefit from the 20% cut in rates.
Movilnet executives have previously said they expect their prices to become a benchmark in the local market.
In July, the company announced plans to add 2mn new mobile telephony lines in the country and interconnect 5,200 schools in the next 18 months.
Movilnet competes with Movistar, a unit of Spanish giant Telefónica, and Digitel.
Posted to the site on 20th August 2007
Posted to: www.cellular-news.com/story/25532.php