Slim to take a position $7.eight billion in Brazil, urges modifications in 5G public sale: report

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FILE PHOTO: The emblem of America Movill is seen on the wall on the firm’s company places of work in Mexico Metropolis, Mexico March 14, 2018. Information/Carlos Jasso

SAO PAULO (Information) – The Brazilian subsidiary of Mexico’s America Movil SAB de CV will make investments $7.eight billion over the subsequent three years, Carlos Slim Domit, son of billionaire Mexican businessman Carlos Slim, stated in a gathering on Wednesday with Brazilian President Jair Bolsonaro, in accordance with the Folha de S. Paulo newspaper.

Slim Domit additionally complained concerning the guidelines for the primary public sale of 5G frequencies in Brazil, anticipated for the second half of 2020, Folha reported.

Jose Felix, chief govt of America Movil’s subsidiary Claro Brasil, and different group executives had been additionally current on the assembly. Domit stated the funding over the subsequent three years refers to funding on the 4G community.

Slim Domit stated America Movil plans to take part within the public sale, though he criticized a number of the guidelines the Brazilian telecom regulator Anatel has instructed for the bids. The ultimate guidelines for the public sale haven’t but been outlined.

Reporting by Tatiana Bautzer; Enhancing by Bernadette Baum