Italy's TIM to Invest US$250 Million in Perú

ROME (05/09/2000) - Telecom Italia Mobile (TIM) SpA will invest US$250 million in its new mobile telephony operation in Perú this year, a TIM spokeswoman said today.

"We are spending US$180 million to acquire the license and plan a further investment of US$70 million in the course of this year," said TIM spokeswoman Anna Chiara Fracassi. The figures were first revealed yesterday by Ellis Bontempelli, TIM's head of international affairs, at an official ceremony marking the allocation of Peru's third cellular phone license in the capital Lima.

As of March 30 TIM had 15.8 million customers outside Italy, and Latin American operations in Argentina, Chile and Brazil, as well as Perú, Fracassi said.

Latin America is one of the Italian mobile phone carrier's strategic priorities, along with southern Europe, TIM CEO Marco De Benedetti told a press conference in Rome last week. "With a population in excess of 300 million it represents an opportunity similar in importance to Europe," he said.

TIM can be contacted in Rome on tel. +3906 39002491 or on the World Wide Web at

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