America Movil to ramp up investment in Brazil

America Movil to ramp up investment in Brazil

America Movil’s chairman Carlos Slim has pledged an investment of BRL30 billion ($7.2 billion) into the group’s Brazilian operations.

Discussing the investment following a meeting with Brazilian president Jair Bolsonaro, Slim noted that the funds would enable the operator to boost capacity across its infrastructure, helping it to improve its current offering as well as pursue new areas of business such as cloud services.

The group operates in Brazil using the Claro brand, providing mobile, fixed-line, and pay TV. America Movil is currently acquiring local rival Nextel for $905 million, and is a rumoured candidate to acquire either all or part of the troubled operator Oi.

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