America Movil to make investment in Brazil
Date added: 5th May, 2011 at 10:32
(view all articles from May, 2011)
Categories: Economy
Mexican telecommunications company America Movil is to make an investment in Brazil, it has been reported.
The firm, which is owned by the world's richest man Carlos Slim, already has 53 million subscribers to its wireless services in the country, Reuters reported.
Across all nations, the provider had sold 284 million accounts for mobile phone, data and TV by the end of the first quarter this year, while revenues expanded by 6.3 per cent in the three months starting in January.
In Brazil, the number of postpaid subscribers to its service increased by almost 1.5 million in the six months leading to March.
"We are still going to grow a lot in Brazil," chief executive Daniel Hajj told analysts, according to the information source.
The company is focusing on selling satellite television and postpaid wireless services, the news provider stated.
"We are trying to position our brand Claro better ... we are growing a lot in TV and the cost of content has been very important," Mr Hajj added.
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