AT&T to Buy Second Mexico Carrier for $1.875B

[cdmagurus.com]

AT&T today announced its intent to purchase Nextel Mexico, which covers 76 million customers across the country. Nextel Mexico is owned by NII Holdings and AT&T will pay it $1.875 billion. NII Holdings is currently in bankruptcy and AT&T's offer is less than NII Holdings' outstanding debt. AT&T will acquire all of NII's spectrum licenses, network assets, retail stores, and about 3 million customers. According to AT&T, the proposed acquisition complements its recent purchase of Iusacell, another Mexican network operator. AT&T said it plans to create the "first-ever North American Mobile Service area" covering more than 400 million people across Mexico and the U.S. The deal will need to be approved by both bankruptcy courts and Mexican regulators. AT&T expects the deal to close by mid-2015.


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