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America Movil, Digicel win Panamanian wireless concessions	2008-05-09 09:00:00
The Associated Press PANAMA CITY, Panama: Mexico s America Movil and Jamaica-based wireless carrier Digicel won mobile telephone licenses in Panama on Wednesday for twin sums of US$86 million €55.7 million , a Panamanian official said. Mexico s America Movil, Latin Americas largest mobile phone service provider, offered US$73 million €47 million for its concession, but was forced by the terms of the auction to match Digicel s larger offer, said Victor Urriola, administrator of Panama s Public Services Authority. The service concessions are for 20 years, with the possibility of extension, Urriola said. Both companies will compete in Panama with local units of Madrid-based Telefonica SA and London-based Cable & Wireless PLC. Analysts expect Panama to maintain robust growth in coming years, as foreign direct investment swells, especially in real estate, and the multi-billion-dollar euro expansion of the Panama Canal proceeds. Today in Americas In the next five years, some 90 percent of Panama s 3.3 million people will use cell phones, up from 60 percent today, Digicel predicted. Digicel plans to directly employ about 300 people in Panama, boosting its presence in Central America. The company, launched in 2001 and owned by Irish billionaire Denis O Brien, already operates in El Salvador and plans to begin service in Honduras this year. America Movil spokeswoman Patricia Ramirez confirmed that the Mexico-City based company won the concession, but wouldn t comment on its price. For All your Panama Business, Investment and Lifestyle needs contact Douglas M. Choy at ThinkPanama.com. He will be happy to provide any guidance and information you may need. Contact: dchoy@thinkpanama.com U.S. Direct: 407 641-5747 - Panama: +507 260-4000 CLICK for LIVE CHAT!

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