Telephone Companies Invest $500 million in Nicaragua

In the past five years, private telecommunication companies have invested $500 million in the country.

Monday, August 15, 2011

Orlando Castillo, executive chairman of the Nicaraguan Institute of Telecommunications and Post Offices, Telcor, said in an interview with a local television station, that the investment has been mainly used to expand mobile phone services.

He added, "the pace of investment in 2007-2011 wass higher than in 1990-2006, when the private sector injected $700 million into this country.

Companies participating in the telecommunications sector in Nicaragua are the transnational Mexican company América Móvil, owned by the the billionaire Carlos Slim, under the brand name Claro, and the Spanish Telefónica, with its subsidiary Movistar.

Also present in the country are Russian state corporation Rostejnologuii, with Yota Mobile WiMAX and IWB Holding S.A., which offer Internet services", reported Elmundo.com.sv



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