Telefonica de El Salvador, a subsidiary of Spain’s Telefonica, has asked for US$30m from head office for next year’s budget.
The Salvadorian company offers both fixed and mobile services and competes with Millicom, America Movil, Digicel Group and…
Telefonica de El Salvador, a subsidiary of Spain’s Telefonica, has asked for US$30m from head office for next year’s budget.
The Salvadorian company offers both fixed and mobile services and competes with Millicom, America Movil, Digicel Group and Malaysia’s Infonet.
Hernan Ozon, CEO of Telefonica de El Salvador, told local newspaper La Prensa that he needed the money to upgrade and modernise the company’s network and infrastructure, as well as increase its national internet footprint.
He admitted however that the parent company might only be able to provide US$15m.
In another acknowledgement, he said the company was expecting to make losses of US$300,000 to US$400,000 a month for the next year, as a result of new regulations capping charges.
Telefonica did not respond to a request for comment by the time of going to press.
