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Chile telecoms firm Entel lifts 2024 investments to US$618 million

Chilean telecommunications firm Entel plans to invest $US618 million this year, the company, slightly above its 2023 spending.

The funds will go primarily toward Entel's mobile and home divisions, the firm in a statement.

The majority of the funds - $451 million - are earmarked for Chile, while another $167 million will go to Entel's Peruvian unit, the company added.

In Chile, "there is a slight dip" in planned investments "if only mobile and business spending is taken into account," CEO Antonio Buchi said in the statement.

"This industry is facing a complex scenario, and just maintaining investments is a challenge," he added.

In Peru, Entel is already the No. 2 mobile operator, and plans to top 30% market share in the next three or four years, Buchi said.



Source: https://www.investing.com/news/stock-market-news/chile-telecoms-firm-entel-lifts-2024-investments-to-618-million-3391367

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