America Movil to invest $10B in Latin America

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Carlos Slim’s America Movil is set to invest $10 billion in the Latin America region over coming years. During the ITU World Telecommunication in Genebra, Slim told Reuters that his empire needs to perform several important investments for fixed broadband access, but that it would place a stronger emphasis on new mobile technologies.

America Movil had previously planned to invest at least $ 8 billion annually to build fiber networks to support data traffic in the region. Indeed, the company has already announced it is investing $6.2 billion in Brazilian operator Claro, Net and Embratel during 2011 and 2012.

In Argentina, America Movil is investing $1 billion through the end of 2012, and $2 billion in Chile over the next four years and $1 billion in Peru in the next three years.

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