June 13, 2006
Movistar expects mobile market to reach 16 million users

(BNamericas.com) - "The Venezuelan mobile market is expected to end 2006 with at least 16 million users, newspapers quoted Luis Malvido, president of the local unit of Movistar as saying.

The executive said the growth trend in the country is the result of greater competition between mobile operators following the recent acquisition of Digitel by Venezuelan holding group Televenco, from Telecom Italia.

Venezuela closed 2005 with 12.5 million lines in service, according to statistics from local telecoms regulator Conatel.

Movistar, owned by Spain's Telefónica Moviles leads the local market with nearly 7 million clients, followed by Movilnet, a unit of Cantv, and Digitel.

Without providing hard figures, Malvido said the company has increased its investment in the country because of market growth and to support plans to expand national coverage".