Trying harder.(Panorama)(Brief Article)

Telefonica Moviles, the wireless subsidiary of Spanish telecommunications giant Telefonica, will invest US$600 million in Mexico in 2004. Telefonica President Cesar Alierta said Telefonica Moviles would spend $1.50 billion in Mexico through 2006. The company hopes to cut the distance it lags behind Telcel, the Mexican wireless division of America Movil, a company controlled by Mexican telecommunications magnate Carlos Slim. In Mexico, Telcel is the undisputed market leader, with 23.4 million subscribers in 2003, when sales hit $4.67 billion. Telefonica Moviles has 3.4 million users and posted $430 million in Mexican sales during 2003.

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