AT&T to acquire Nextel Mexico for $1.875 billion
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Under terms of the agreement, AT&T will acquire companies, which operate under the name Nextel Mexico, holding all of NII's wireless properties in Mexico, including spectrum licenses, network assets, retail stores and approximately 3 million subscribers.
AT&T plans to create the first-ever North American Mobile Service area covering over 400 million consumers.
Combining Nextel Mexico with Iusacell will allow AT&T to more quickly improve and expand its mobile Internet service, particularly those who live outside major metropolitan areas, than it could otherwise do without the transaction.
The transaction is subject to a bankruptcy auction and approvals by the U.S. Bankruptcy Court for the Southern District of New York, which is overseeing the restructuring of NII Holdings. The transaction is also subject to regulatory approval by Mexico's telecom regulator IFT (Instituto Federal de Telecomunicaciones).
Based on its recent positive experience with Mexico's focused regulatory review and approval process, AT&T expects the transaction to close in mid- 2015. ■