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The Spanish telecommunications company Telefonica has announced plans to invest $500 million in Colombia next year.
The investment of the company will serve to increase the infrastructure of its mobile and landline data services, said the president of Telefonica Colombia, Alfonso Gomez.
Telefonica owns Movistar, the second largest mobile phone operator in the country with 10.7 million customers, and Colombia Telecomunicaciones, the largest landline company in the country.
Gomez said, “In terms of our fixed operation, we continue growing in broadband. Between fixed and mobile telephones in 2011 we invested $6.17 billion and we hope to invest the same or more next year.”
Colombia Telecomunicaciones operates in association with the state, however last week, the government threatened to liquidate the company if Congress did not approve capitalization of the company estimated at $3.7 billion.
