Telefonica Says Committed to Ecuador

Telefonica Says Committed to Ecuador

Andean

Spain's Telefónica is going through some tough talks with Ecuador's government to renew its concession, but it is hopeful of finding a solution. "We are committed to the future of the Ecuadorian telecoms sector," a Telefónica spokesman tells LatinFinance. The telecom says it has spent about $1bn in Ecuador since setting up shop there in November 2004 and plans to spend more than €55m next year, up from an average annual €50m. However, president Rafael Correa claims that foreign firms are chargin

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