Mexican billionaire Carlos Slim said his telecoms company America Movil will invest nearly USD 1 billion on network developments in Colombia in 2013 if regulators reverse course and grant the company access to 4G wireless airwave licenses, Bloomberg reports. The investment would be an increase from USD 920 million this year, America Movil’s controlling shareholder Carlos Slim told reporters in Cartagena, Colombia.
Colombia’s government is drawing up a plan for an auction of 4G radio licenses, and an early document outlining the bidding process excluded America Movil. Lawmakers and competitors such as Telefonica and Empresa de Telecomunicaciones de Bogota (ETB) claim America Movil’s current 60 percent market share makes it too dominant and limits competition. “Excessive regulation inhibits investment in the sector,” Slim said. “It undermines legal certainty and delays the possibility of mobile broadband.”
America Movil CEO Daniel Hajj recently said that America Movil plans to invest around USD 10 billion in 2013 in its network development across Latin America.
Slim also said he does not plan to personally discuss the 4G auction with Colombia President Juan Manuel Santos. “I don’t think that’s an option, because I wouldn’t understand how you could leave 26 million Claro clients without access to new technology,” Slim added.
