AT&T, the second-largest U.S. mobile-phone carrier, agreed to buy Nextel Mexico’s 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. The deal will bolster AT&T’s position in Mexico, which began with its $2.5 billion purchase of Iusacell.
AT&T has made it clear that international expansion has become one of its top priorities. One of the important parts of its pending $49 billion acquisition of DirecTV.
The deal that is expected to close by the middle of the year is subject to bankruptcy auction and approvals by the US Bankruptcy Court for the Southern District of New York and Mexico’s telecom regulator.
Full Content: The New York Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI