Breaking News

Tweet TWEET

Nicaragua Opens Mobile-Phone Market to Xinwei, Nuevo Diario Says

Nicaragua will allow China’s Xinwei Telecom Enterprise Group to compete against two other mobile- phone providers in the Central American nation, El Nuevo Diario said.

The privately-held Xinwei may invest $300 million in the first two years and as much as $800 million in total for Internet and mobile-phone service rights, the Managua-based newspaper reported today, citing Orlando Castillo, president of Nicaragua’s telecommunication regulating agency.

America Movil SAB, Mexico’s largest wireless provider, and Spain’s Telefonica (TEF) SA also provide mobile phone service in Nicaragua, El Nuevo Diario said. Nicaragua has six million mobile phones in use, the newspaper said.

To contact the reporter on this story: Eric Sabo in Panama City at esabo1@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.