Brasilia. Mexican tycoon Carlos Slim said Friday that he is considering investing more than 40 billion reais (about $7.7 billion) in Brazil over the next four years, after meeting with President Luiz Inácio Lula da Silva in Brasilia.
Slim, whose family controls telecommunications giant América Móvil, said the investments would be made in Brazil’s 5G and fiber optic networks.
Claro, owned by América Móvil, is a major player in the telecommunications sector of the South American country.
“In the last five years we have invested more than 50 billion (reals) and now we are thinking about more than 40 billion reais for the next four or five years,” Slim told reporters at Brazil’s presidential palace.
Asked whether he would consider buying embattled Brazilian telecommunications firm Oi, which is in bankruptcy protection, Slim said he was not considering buying any company in Latin America’s largest economy.
Instead, “we are thinking about investing and competing more,” he said.
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– 2024-04-22 14:32:20
