Not for no good reason did the Beatles sing: “Cause I’m the taxman, yeah, I’m the taxman.” And it looks like the Peruvian government took that seriously. Peru’s tax agency has been saying Spain’s Telefónica, the largest telecom operator in the Andean country, owes over $850m in taxes and accumulated interest from 2000 and 2001.
However, on Monday, after almost a year and a half of negotiations the Peruvian government said it would renew Telefónica’s operating license in the Andean country for another 18 years and ten months. Good timing too: it’s just a few days before the visit of Spain’s Prime Minister Mariano Rajoy. Continue reading »
As mobile phones approach worldwide ubiquity, it’s easy to see that the countries with the biggest populations will have the most connections, with China and India in the lead.
But which companies are serving those customers? And which ones are set to capitalise on the growth in emerging markets? Chart of the week dials in. Continue reading »
In the latest episode of Mexico’s battle of the telecoms titans, Spain’s Telefónica and Mexico’s Iusacell on Wednesday announced plans to unite in the cellular market against the biggest titan of them all, Carlos Slim, reputedly the world’s wealthiest man.
On his home turf, Slim’s América Móvil has some 70 per cent of Mexico’s mobile market, a proportion that Mexican officials describe as “dominance”. Continue reading »
When an avalanche of Spanish capital turned up on Latin America’s doorstep over the turn of the century, naysayers shuddered at headlines that welcomed the “New Conquistadors”. Latin America seemed to many to be a risky bet for Spanish banks, energy and telecommunications companies by comparison with the comfort zone provided by European markets.
Instead, the steady growth of Latin America has provided welcome relief for Spanish companies from the financial turmoil at home. But in recent weeks troubles in the old country have appeared to clip the wings of the Spanish companies in LatAm. A weakened Spain, indeed, seems to have lost political clout in the region. Continue reading »