America Movil SA, the largest provider of wireless services in Latin America, said it plans to provide cable services in Central America and expects to spend US$3.2 billion (€2.4 billion) this year on upgrades including new mobile phone technology throughout Latin America.
America Movil executives also said Thursday that the company is looking for alternative partners to acquire a minority stake in Telecom Italia after AT&T Inc. backed out of a joint bid with the Mexican company.
But America Movil Chief Executive Officer Daniel Hajj said he does not think the company needs to find a partner before Monday, when its exclusive negotiating period expires.
