Claro to invest $2.7 billion in Argentine unit

Claro to invest $2.7 billion in Argentine unit

Carlos Slim’s Mexican mobile operator Claro will invest $2.7 billion in its Argentine operations over the next five years, according to local reports.

The funds will allegedly be used to upgrade and expand its networks in the country, as well as boost coverage and improve service quality.

“Argentina has been experiencing a profound transformation in recent years, characterised by users who consume all types of content and growing demand for access to faster connection speeds,” the company said in a statement.

Claro’s parent company, America Movil, said it had noted an 800% increase in customer mobile data consumption over the last five years.

“In this regard, the company has decided to launch an aggressive mid-term investment plan focussed primarily on positioning ourselves at the forefront of this growing trend in data consumption and guaranteeing service quality,” the company added.

A lack of investment in Argentina means network reception in the capital of Buenos Aires is often patchy, but mobile operators are now starting to take note.