Telefónica Plans $1.5 Billion Chile Investment

Spanish telecoms operator Telefónica, the largest foreign player in its sector in Latin America, is planning to invest $1.5 billion in its operations in Chile over the next three years. The money will be spent on expanding networks and infrastructure. The Spanish telco controls the country’s largest fixed-line operator, Telefónica de Chile (CTC), as well as the largest mobile phone operator, Telefónica Móvil. The announcement comes after Chile’s telecoms regulator indicated it would be loosening regulation in the sector in the near future.