ICT: The week in 10 stories

CHILE

Regulator Subtel has confirmed the interest of China Telecom in investing in the country.

Local daily La Tercera reported on Monday that the Chinese telecom giant had registered with the telecom watchdog on April 16 as a potential future investor in the market.

Chilean telco Entel posted an almost 100% fall in net profit in the first quarter as customer gains in Peru were offset by losses in Chile. Results were also impacted by new accounting standards adopted by the company.

BRAZIL

NII Holdings, the parent company of mobile operator Nextel Brasil, projects having sufficient liquidity to fund its own operations until the end of 2019.

The Brazilian lower house voted and approved a provisional measure signed by President Michel Temer renewing and modifying the country's IT law.

ARGENTINA

Chilean cryptocurrency trader Buda is opening offices in Argentina this month, as the country faces high inflation and a currency crisis.

MEXICO

In an interview with BNamericas, AT&T Mexico's general director of operations, Carlos Blanco, delves into some of the plans and achievements of the company in its three years in Mexico.

REGIONAL

Virgin Mobile Latin America has reportedly signed a contract with investment bank BTG Pactual to sell its operations in Chile, Mexico and Colombia, Chilean daily Diario Financiero reported, citing Bloomberg.

Mobile services in Latin America are now operating on average with 18% of the total spectrum requirement proposed by the International Telecommunication Union (ITU) by 2020, according to mobile broadband advisory group 5G Americas.

Best known as the foundation of cryptocurrencies such as Bitcoin, blockchain technology is also seen as having the potential to benefit the Latin American transport, healthcare and food production sectors.

Liberty Latin America (LLA) posted a 3.5% drop in revenue in Q1 to US$910mn, as gains in Chilean cable company VTR could not offset losses from the Cable & Wireless Communications (CWC) and Liberty Puerto Rico units due to damage from hurricanes Irma and María.