Telefonica, a leading mobile operator in Spain, reportedly plans to invest as much as US$ 500 million in Colombia in the next year so as to increase its mobile and landline data service infrastructure. Mobile operator Movistar and landline company Colombia Telecomunicaciones are both units of the Spanish giant.
According to reports, Alfonso Gomez, President, Telefonica Group has said that in terms of their fixed operation, they continue growing in broadband. Further, between fixed and mobile telephones in 2011 they invested $6.17 billion and hope to invest the same or more next year.
As reported by Wireless Federation earlier, the Colombian government had said that it would liquidate the assets of Telfonica Telecom, its joint venture with Telefonica, in the event that Congress would not approve its capitalization plan worth US$ 3.8 billion.
