Telefónica Móviles plans to invest around ARS400 million (USD135 million) in mobile network infrastructure development in Argentina once its merger with Argentine cellco Movicom BellSouth has been approved, according to BNamericas. The planned expenditure would be in addition to the ARS700 million that Telefónica Móviles had earmarked for the country in 2004/05. The Spanish wireless group, operating locally as Unifón, has been asked by the Argentine regulator, the CNC, to return 42MHz of spectrum before the merger can be approved. The company has told the CNC that returning the spectrum could take two to four years.
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