Entel, the technology and telecommunications company that operates in Chile and Peru, announced plans to invest USD 350 million in its mobile business, primarily for the commercial deployment of its 5G network and the strengthening of its 4G network. This investment is aimed at maintaining the company's leadership during the ongoing technological transition. The announcement was made during the Ordinary Shareholders' Meeting, where the renewal of the board of directors also took place.
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Year 2022, Initial Phase of 5G Deployment
Entel stated that 2022 was crucial for them as they completed the initial phase of their 5G network deployment. The company has taken significant steps towards achieving their goal of becoming a more agile, sustainable, and adaptable organization. Entel is focusing its efforts and resources on areas such as mobile business, technological advancement, home internet service, and digital services for companies and institutions.
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Sale of Data Centers to Equinix
According to the statement, Entel sold its data centres in Chile and Peru to Equinix last year and announced an agreement to sell its Fiber-to-the-Home (FTTH) network in Chile to ON*NET Fibra, subject to approval by the National Economic Prosecutor's Office.
Invest Plan in Chile
4G and 5G Networks
Entel has announced an investment plan to improve the browsing experience for mobile users and expand their home internet business with 4G and 5G Networks. The company plans to allocate USD 350 million to its mobile business in Chile, promising to deliver the best and most consistent browsing experience in the market. At the end of 2022, Entel led the market for 5G mobile connections with a 44.3 percent share.
In addition, Entel will invest over USD 80 million in connecting new homes with fibre optics, which is a strategic growth pillar for the company. By accessing the shared fibre optic network owned by ON*NET, Entel plans to offer a competitive service to nearly 4 million homes in the country, compared to the 1.2 million currently served.
Expand Fiber Market Share
The company aims to achieve a market share of 25% to 30% in the home internet business in the coming years, with this operation playing a crucial role in realizing that objective.
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Entel Investments in Peru
4G and 5G networks
Regarding investments in Peru, Entel highlighted that around USD 150 million will be allocated to the mobile business, focusing on increasing the capacity and quality of its 4G and 5G networks.
According to a statement, "Peru continues to be a market where the company sees great potential for growth, offering attractive opportunities for the telecommunications industry. The company maintains its growth objective, supported by a valued brand and first-class service, winner for nine consecutive years of the Best Customer Experience index in telecommunications."
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"As of December 2022, Entel already exceeded 10 million mobile users, reaching a 24.8% market share, which is 1.4 percentage points higher than at the end of 2021. Entel challenge remains to reach 30% market share," according to a statement by the company.