America Movil's Brazil unit wins first new 4G license

Reuters News
Posted: Sep 30, 2014 10:12 AM

BRASILIA (Reuters) - Claro, the Brazilian mobile operator run by Mexico's America Movil SAB de CV, won a new national broadcast license for fourth-generation (4G) cell spectrum in the 700 MHz range with a bid of 1.947 billion reais ($795 million) on Tuesday.

Rivals Telefonica Brasil SA and TIM Participações SA, the country's two biggest carriers, remained in the dispute for two other national 4G licenses. Fourth-place mobile operator Grupo Oi SA said last week it would not participate in the auction.

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(Reporting by Leonardo Goy Editing by W Simon)