Movistar to get cash injection

Spanish giant Telefónica, the parent of El Salvadoran cellco Movistar, is to invest USD60 million in its subsidiary’s GSM network in 2007, reports BNamericas, quoting local source Diario Hoy. The money will be used to expand the network nationwide, and particularly in the developing north and east regions. According to TeleGeography’s GlobalComms database, Movistar is currently the third-placed operator in El Salvador, with 693,600 subscribers at the end of September 2006, giving it just over a fifth of the market.