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WOM increases Chile investments 126%

Bnamericas Published: Friday, November 18, 2022
WOM increases Chile investments 126%

Chilean operator WOM boosted its investments by 126% to US$230mn in the 12 months through September. 

The increase was due to the expansion of its 5G network, the company said in a Q3 release.

WOM had earlier pledged network investments of US$500mn for 2021-2023.

The company claims to have the largest 5G network in Chile, "providing coverage to more than 15mn people in over 300 municipalities."

At end-June, WOM had 4.9mn smartphone clients with 4G connection and 305,163 with 5G, according to figures from sector regulator Subtel.

In April, former CEO Christopher Laska told BNamericas that WOM aimed to end the year with 2,100 5G sites.

RESULTS

The company posted adjusted Ebitda of US$57mn in Q3, up 8.7% year-on-year.

WOM increased service revenues by 9% in the quarter and had a customer base of 7.6mn at end-September.

The company said it repurchased bonds worth US$285mn in October, which together with another repurchase in July, allowed it to reduce its debt by US$300mn.

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