By Nicolás Misculin

BUENOS AIRES (Reuters) -The newly formed Argentine-owned ​Waiken, parent company of Sky Brazil ‌and DirecTV Latin America, said on Monday it will ‌invest $450 million by 2031 to boost its entertainment and telecommunications business in the region.

Waiken, which last year signed an agreement with Amazon ⁠through its subsidiary ‌Vrio Corp to offer satellite internet in South America, said it will ‍also expand its fiber-optic telecommunications business in Brazil with the acquisition of the company Proxxima.

“In 2025 ​and 2026 we are investing heavily in ‌connectivity, and we are focusing on Brazil at the moment,” Darío Werthein, president of Waiken, told Reuters in an interview.

The holding company, controlled by the Werthein ⁠Group, aims to ​boost its presence in the ​region by developing its sports content, pay television, and satellite and fiber-‍optic telecommunications ⁠businesses.

The group intends to expand into the United States and other countries such as Paraguay,⁠ Bolivia and Costa Rica.

(Reporting by Nicolás ‌Misculin; Writing by Leila Miller; ‌Editing by Nia Williams)