Millicom to invest $450 million in Ecuador over four years

QUITO, March 24 (Reuters) - Ecuador's telecommunications ministry said on Tuesday that Millicom's local unit will invest $450 million over four years to expand phone infrastructure and modernize services.

KEY CONTEXT

• The funds will enable renewal of the mobile network, the ministry said.

• The investment is additional to payments agreed in November 2025 for radio spectrum use. Ecuador secured $880 million through contract renewals with America Movil and Millicom through 2038, with $610 million paid before the end of 2025.

• Earlier this month, Telecommunications Minister Roberto Kury announced a $600 million investment by America Movil in the country over three years for technological infrastructure.