Business Services Industry
Cable & Wireless Panama to invest US$24 million in advance of new entrant.(Panama)(Brief Article)
Latin America Telecom, November, 2004
The British and incumbent operator announced new disbursements of US$24 million to prepare for the arrival of regional giant Telefonica Moviles to Panama. The funds will be used to improve the GSM network and to expand the portfolio of services. Currently, Cable & Wireless is the leading telecom operator in Panama with 560,000 mobile subscribers, 360,000 fixed lines in service, and more than 30,000 Internet customers.
On October 15, BellSouth finalized the sale of its Panamanian mobile operator to Telefonica Moviles. The Spanish operator will assume the control of 502,000 mobile phone subscribers. Panama is home to 3 million people.
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