Telecom Italia's CEO said the company was preparing a non-binding offer for Nextel.
Insurtechs represent a small share of the overall fintech industry in the region but the number of insurtech firms is growing very fast, according to a study from the IDB and Finnovista.
The telco said it plans to invest US$5bn by 2020-2021 to expand and improve its communications and connectivity infrastructure.
Google Play has recorded 1bn monthly installs from Latin American users, and revenue from app subscriptions in the region has increased exponentially.
TIM and Ericsson had already launched the Latin America's first commercial NB-IoT network in March, also in Brazil's Minas Gerais state.