Bloomberg News

Telefonica Plans $1.5 Billion Internet Expansion in Peru

January 23, 2010

Telefonica del Peru SAA, the Peruvian unit of Spain’s largest phone company, Telefonica SA (TEF), plans to invest at least $1.5 billion to expand its Internet platform in Peru, Chairman Cesar Alierta said.

Telefonica will extend its fiber optic network to the country’s central Amazon jungle and southern Andes, giving almost all of Peru’s 28-million inhabitants Internet access, he said.

“These investments are fundamental to maintain and improve Peru’s competitiveness,” Alierta told reporters in Lima yesterday. “They’re designed to meet consumer needs that are evolving very quickly in this digital age.”

To contact the reporters on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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