AT&T to acquire Iusacell in Mexico

AT&T has reportedly reached an agreement to buy Mexican mobile operator Iusacell for $2.5 billion including debt.

The move will land the US carrier with 8.6 million subscribers in Mexico across 70% of the country. It forms part of the company’s international expansion, which appears to be increasingly focussed on Latin America.

In July, AT&T sold its 8.4% stake in America Movil in order to help receive regulatory approval for its $49 billion acquisition of DirecTV.

In September, AT&T's chief strategy officer John Stankey is reported to have said that the Mexican market is of growing interest to the company, and AT&T has the depth and balance sheet to do a deal if there is an opportunity.

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