Telefonica to invest US$ 25 million in Panama this year

摘要

Telefonica plans to invest a further US$ 25 million this year in expanding its Movistar Panama business, reports business daily El Economista, citing the unit's general manager Marcelo Mouzo. The main focus of the operator, which has already invested some US$ 600 million over the past 10 years, is to further extend the reach of its LTE network beyond the current 70 percent coverage rate, said Mouzo, adding that Movistar is looking to maintain its market share of 36 percent of the local mobile sector.