Telecom Argentina to invest US$710mn in 2016

Telecom Argentina plans to invest 10.6bn pesos (US$710mn) in 2016 and more than 40bn in the 2016-18 period.

The company was sold from Telecom Italia to financial group Fintech in March and its new owner, David Martinez, has said that he would focus investments on building out fixed line infrastructure and offering pay-TV once regulations allow.

In a statement, Telecom Argentina said that it has extended 3G capacity in Buenos Aires by 80% and is currently modernizing all its telecoms equipment.

The company won 3G and 4G spectrum in 2014 and 2015 and is currently rolling out a 4G LTE network.

Over the last three years the company has invested 24bn pesos, with some 88% of company Ebitda invested over the 2013-2015 period.

The company celebrated this week its 20^th anniversary in Argentina. Commenting on the future, CEO German Vidal the telco is working towards becoming an integrated communications solutions provider. "Total connectivity, internet of things and smart cities are just a few of the new services that our clients are starting to experience."

Telecom Argentina's mobile unit Personal Argentina announced in May a deal with General Motors to provide the mobile connectivity and SIM cards included in the new Chevrolet Cruze.

Telecom's biggest rival, Telefonica Argentina, said at the end of last year it plans to invest US$3.7bn in 4G and VoLTE.

State news agency Télam reported last month that investments in Argentina's telecom infrastructure is set to rise 25% this year.