BNamericas is reporting that Movistar Peru has set aside PEN681 million (USD232 million) for investment in 2008. Movistar, a subsidiary of Spanish telecoms operator Telefonica, expects to use the funds to expand and improve networks and systems in its current areas of operation, while also expanding into new rural areas. According to TeleGeography’s GlobalComms database, Movistar is also planning to launch 3G services by the end of the year.
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