Spanish giant Telefonica SA said it signed a 20-year contract with the Peruvian government to provide 4G broadband Internet service in the Andean nation.
Under the terms of the deal, Telefonica subsidiary Movistar Peru is to deliver high-speed Internet to 120 population centers by the end of the second year.
"With the concession of the 4G LTE radio-electric spectrum the company will offer a quality experience that achieves international standards," Telefonica said.
Telefonica bid $152.2 million in a July 22 auction for Block A of Peru's 4G LTE spectrum.
The Spanish company has invested more than $7.3 billion in its Peruvian operations during its two decades of doing business in the South American country, Telefonica Moviles chief Alex Nolte said.
"The deployment of the Movistar 4G LTE technology will permit us to continue fulfilling our vision of transforming ourselves into a 'Digital Telco,'" he said. EFE