America Movil to invest USD 8.5 bln in 2020, launch 5G in H2 - CEO

News General Latin America and the Caribbean 14 FEB 2020
America Movil to invest USD 8.5 bln in 2020, launch 5G in H2 - CEO
America Movil has plans to spend another USD 8.5 billion on capital expenditures in 2020, similar to last year’s investment, to continue expanding its fibre-optic infrastructure throughout Latin America and launch its first 5G networks, said the company’s CEO Daniel Hajj, according to Reuters. In a call with investors following the publication of America Movil’s full-year results, Hajj said 5G services will likely debut in Mexico this year and may arrive in Brazil as well, depending on the availability of spectrum. “We just launched our 5G network in Austria… and we’re going to do that all around Latin America in the second half of the year,” he said.

America Movil reported a 63 percent year on year surge in net profit to MXN 21.2 billion in the fourth quarter thanks to reduced costs and strong gains in postpaid customers, although revenues were flat at MXN 263 billion due mostly to the appreciation of the Mexican peso. It ended 2019 with 278 million mobile subscribers, having added 1.9 million postpaid subscribers in the fourth quarter alone.

Categories:

General

Companies:

America Movil,  Claro

Regions:

Latin America and the Caribbean

Tags:

Production planning & operations, Fibre, 5G

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