MADRID — Spanish telco giant Telefonica has earmarked 300 million pesos ($98.4 million) to launch a broadband TV service in Argentina in 2007.

Money will be used in part for high-tech equipment to facilitate video content delivery via broadband.

Coin forms part of the total $524.8 million Telefonica budget for Argentina in 2007. These funds also will target an expansion in Telefonica’s mobile telephony network and broadband Internet takeup.

The name of the new IPTV network could be Speedy TV, according to Eduardo Caride, prexy of the Telefonica Group in Argentina.

Telefonica has already successfully launched IPTV service Imagenio in Spain.

“Our strategy is that wherever we have fixed lines, we’ll offer broadband, and wherever we have broadband, we’ll offer IPTV,” said a Telefonica rep in Madrid.

In much of South America, however, Telefonica’s attempts to bow IPTV have been frustrated to date by regulatory constraints.

Stymied from offering IPTV, it has bowed satellite TV services in Chile and Colombia.

Its October purchase of a stake in Brazilian feevee service TVA raised the ire of other pay TV players, who have protested that Brazilian law prevents a fixed-telephony operator such as Telefonica from offering pay TV.

Both Telefonica and TVA operate in the Sao Paulo region.

In Argentina, Telefonica hopes the government will pass enabling legislation in the first half of 2007 authorizing triple-play services, said the Telefonica rep.