Spain's Telefonica is looking east to Ecuador as it plans new business expansion, reports Dow Jones. The company-which has invested more than $1.2 billion in the country since 2004--said it will invest another $400 million in the Central American country over the next few years.
Telefonica operates in Ecuador under the Movistar brand, and this month tentatively was grated charter to continue, allowing it to expand into mobile and 3G services for the next 15 years.
For more:
- read the Dow Jones article in Easy Bourse