MANAGUA Jan 11 China's Xinwei Telecom
Enterprise Group has won approval to operate cellphone and
Internet services in Nicaragua and expects to invest $2 billion
in the Central American country over the next three years,
Nicaragua's telecoms regulator said on Friday.
The company will start operations this year and plans to
invest an initial $700 million to allow it to offer coverage
across the country, said Orlando Castillo, head of the
regulatory agency Telcor.
The total investment over three years will round out to
about $2 billion, Castillo told local television. He did not
give further details of the authorization.
Claro, a unit of tycoon Carlos Slim's America Movil
, Telefonica's Movistar and Russian firm Yota
currently operate phone and Internet services in Nicaragua.