AT&T announced late last week that it reached an agreement to acquire Mexico wireless operator Iusacell I a $2.5 billion deal.
Reports say the US carrier’s investment in Latin America is poised to strengthen Iusacell’s position against its main rival and dominant wireless operator, America Movil.
AT&T will acquire the assets from their current owner, billionaire Ricardo Salinas, after he finalizes his own deal to acquire 50 percent of Iusacell from Grupo Televsa. The $2.5 billion purchase price includes $800 million in debt, reports say.
Mexico recently launched legislative overhauls aimed at boosting competition in its telecommunications industry, dominated largely by America Movil owner Carlos Sims. AT&T has already impacted the Mexican telco market with its plans to acquire DirecTV, which operates satellite services throughout Latin America.
In its announcement, AT&T called its purchase of Iusacell a “direct result of the reforms put in place by President Pena Nieto to encourage more competition and more investment in Mexico.”
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI