China Telecom expected to bid for Mexico’s broadband network
China Telecom is reportedly preparing a bid for a contract to build and operate a $10 billion mobile broadband network in Mexico.
According to a Reuters report, the carrier has secured several billion dollars worth of financing from Chinese state-controlled banks, including China Development Bank, for the purpose of bidding for the upcoming infrastructure project.
In a statement emailed a day after the report, a company spokesman said that it is in a preliminary study into an investment opportunity in Mexico but did not provide further details.
The proposed network is part of sweeping government reforms to loosen billionaire Carlos Slim’s grip on the market in the country.
Last October, the Mexican government said it plans to deploy a nationwide, shared mobile network to offer wholesale services from 2018.