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America Movil and Telefonica win Costa Rica cell bids

Monday, January 10, 2011

Costa Rica's telecoms regulator awarded licenses to Spain's Telefonica and Mexico's America Movil.

They became the first private firms to provide mobile service in the country's relatively undeveloped wireless market.

Telefonica put its highest bid at $95 million, over America Movil's $77 million, for the best of three licenses open for bidding, said the regulator Sutel. Sutel recommended that the Mexican firm, controlled by billionaire Carlos Slim, win a separate license for $75 million.

Original source: Reuters