AT&T, the second-largest U.S. mobile-phone carrier, agrees to buy Nextel Mexico’s wireless assets for USD $1.875 billion.
AT&T ‘s entrance into Mexico continues unabated with the acquisition of Nextel Mexico from NII, which has been in US chapter 11 bankruptcy protection. The deal includes the companies that operate under the Nextel Mexico brand, spectrum licenses, network assets, retail stores and about 3 million highly valued postpaid customers. Nextel Mexico’s network covers about 76 million people and Nextel’s spectrum bolsters what Iusacell has to offer, namely wireless data services, the key element of AT&T’s growth strategy.
AT&T closed this month their acquisition of Iusacell and will combining Nextel assets will provide much needed competition for a sector known for it’s high prices and awful customer service. There have been no suitors announced for Carlos Slim’s America Movil assets in Mexico, which need to be disposed off as part of the anti monopoly conditions which came into law as part of the 2014 Telecom Reform.