February 1, 2018 / 1:53 AM / in 23 days

Argentina's Telecom plans to invest $5 bln through 2020

BUENOS AIRES, Jan 31 (Reuters) - Argentina telecommunications provider Telecom Argentina said on Wednesday it would invest $5 billion in the country through 2020 to expand its network and improve infrastructure.

The move comes as Telecom seeks to expand services following a loosening of local regulations. Earlier this month, the South American country’s telecoms regulator implemented a rule allowing companies to provide a so called “quadruple play” of mobile phone, land line, cable television and Internet services, which had previously been prohibited.

The change, previously announced by President Mauricio Macri, paved the way for a merger agreement between Telecom and cable TV provider Cablevision last year.

Telecom said In a statement it would invest $1.3 billion in 2018. It added it would finance its investments through “various financial instruments available in the market,” without providing any further details. (Reporting by Eliana Raszewski; Writing by Luc Cohen; Editing by Sandra Maler)

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