AT&T to buy Nextel’s wireless assets for $1.9 billion in third deal to expand into Mexico

AT&T continues its expansion into Mexico.
AT&T continues its expansion into Mexico.

By Scott Moritz and Patricia Laya  / Bloomberg

AT&T Inc., the second-largest U.S. mobile-phone carrier, agreed to buy NII Holdings’ Mexican wireless assets for $1.875 billion in its third deal to expand south of the U.S. border.

The acquisition includes companies that operate under the name Nextel Mexico, spectrum licenses, network assets, retail stores and about 3 million customers, Dallas-based AT&T said in a statement.

The purchase price doesn’t include an unspecified amount of debt from NII, which filed for bankruptcy in September.

Nextel Mexico’s high-paying monthly subscribers will help AT&T accelerate a plan to offer its first cross-border service in the U.S. and Mexico.

AT&T’s pending takeover of DirecTV, which has operations in Mexico, marked the company’s first push outside the U.S. in more than a decade as growth slows at home. The company has since added to that expansion with the $2.5 billion acquisition of Grupo Iusacell, which closed earlier this month.

http://www.bloomberg.com/news/2015-01-26/at-t-agrees-to-buy-nextel-mexico-for-1-875-billion-minus-debt.html

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