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America Movil says halfway through $50 bln investment plan
April 25, 2013 / 2:40 AM / 4 years ago

America Movil says halfway through $50 bln investment plan

MEXICO CITY, April 24 (Reuters) - Mexican tycoon Carlos Slim’s phone giant, America Movil SAB de CV, is about halfway through a five-year plan to invest around $50 billion in Latin America, a company spokeswoman said on Wednesday.

The spokeswoman was responding to a report by Mexican news agency Notimex that America Movil’s chief financial officer, Carlos Garcia Moreno, had announced an investment plan of $50 billion over the next five years at an event in Peru.

The spokeswoman confirmed the sum was correct, but noted the plan had already run about half its course.

“It’s a process of five years and we’re about halfway through it,” the spokeswoman said.

Slim said in late 2011 the company planned to invest up to$10 billion annually in Latin America in ensuing years to boost its telecommunications infrastructure and mobile technologies.

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