América Móvil Ups Investments

Mexico’s biggest wireless company América Móvil will invest $200 million in Peru this year as part of the company’s expansion throughout South America. América Móvil also says it plans to buy Brazilian wireless telecommunications services provider Telemig Celular Participações. América Móvil is one of the two largest mobile phone operators in Latin America, and competes directly with Spanish wireless telecom provider Telefónica Móviles.