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Carlos Slim sees telecoms capex up to $10 billion
October 24, 2011 / 5:10 PM / in 6 years

Carlos Slim sees telecoms capex up to $10 billion

By Georgina Prodhan

GENEVA, Oct 24 (Reuters) - America Movil (AMX.N) owner Carlos Slim expects his Latin American telecoms empire to make capital investments of up to $10 billion annually in the region for the next years, he said in an interview on Monday.

“We need to go with very important investments for broadband access for the people by way of landline, but mainly it will be from mobile new technologies and new strong investments,” he told Reuters at the ITU World telecoms fair in Geneva.

“They can be of the order of $10 billion,” he said on the sidelines of the United Nations’ ITU World telecoms fair on Monday. “Between seven and 10 in the next years, depending, in Latin America.”

America Movil had previously said it planned to invest at least $8 billion annually to build up fibre networks to support data traffic in the region.

Slim, the world’s richest man, said his company’s focus was very much on Latin America, where America Movil has more than 200 million customers.

    He said he would have no interest in trying to acquire Deutsche Telekom’s (DTEGn.DE) T-Mobile USA unit, should its planned sale to AT&T (T.N) fail for regulatory reasons.

    (Editing by David Cowell)

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