Movistar Peru has reached an agreement with the Peruvian government to renew its wireless licences, ending more than a year of negotiations, Bloomberg reports. Under the agreement, Movistar will invest PEN3 billion (USD1.15 billion) to expand coverage, including extending services to 1,842 villages. The Spanish-backed telco is also required to provide free internet access to remote state schools and charge half rates for pensioners and state workers in rural areas: telecoms minister Carlos Paredes claimed that the lower rates would benefit ‘more than a million’ Peruvians. Movistar unconditionally accepted the government’s terms, with the cellco’s CEO saying that the company would: ‘continue investing in Peru and work faster with authorities to expand telecommunications as a tool for development.’
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