The Peruvian government has renewed the operating licence of monopoly Telefonica del Peru after arduous negotiations.
Transport and communications minister Carlos Paredes told a press conference that he would renew Telefonica’s licence but had…
The Peruvian government has renewed the operating licence of monopoly Telefonica del Peru after arduous negotiations.
Transport and communications minister Carlos Paredes told a press conference that he would renew Telefonica’s licence but had attached conditions to extend coverage, Bloomberg reported.
Telefonica has reportedly agreed to invest US$1.18bn in the country to expand its coverage into rural areas, where it will offer concessions to state employees and pensioners and offer free internet to schools.
Many of Telefonica’s licences expired in May 2011 and the operator has been in negotiations with the government since then.
In Telefonica’s Q3 conference call Santiago Fernandez Valbuena, head of the group’s LatAm operations, had said he expected the renewal to be agreed upon before the end of 2012.
Telefonica’s Movistar brand is the number one operator in the country with a more than 50% market share.
