America Movil & Telefonica to maintain investment plans in Ecuador for 2009

www.WirelessFederation.com/news: Regardless of the global economic credit crunch, America Movil and Telefonica plan to maintain their investment plans in Ecuador for 2009. America Movil will make an investment of US$ 120 million throughout this year, via its Ecuadorian subsidiary Porta.

Alfredo Escobar, Porta’s President reportedly said that funds will mainly be used to boost technological innovation, improve customer service and expand network coverage. Movistar has also repeated its initially planned investments of up to USD 85 million in 2009.

According to Hernan Ordonez, Movistar’s VP for regulatory affairs, “We must fight the crisis with investments. The [Ecuadorian telecoms] sector needs investments”.