MEXICO CITY, April 30, 2015 /PRNewswire/
-- AT&T1 has completed its acquisition of
companies operating under the name Nextel Mexico from NII Holdings,
Inc., including spectrum licenses, network assets, retail stores
and subscribers in Mexico, for
$1.875 billion, less approximately
$427 million of net debt and other
adjustments.
Earlier this year, AT&T acquired Mexican wireless provider
Iusacell. AT&T will integrate Iusacell and Nextel into one
company focused on bringing more choices, better service and faster
mobile Internet speeds to more locations throughout Mexico. AT&T plans to create the
first-ever North American Mobile Service area, which will cover
more than 400 million consumers and businesses in Mexico and the
United States.
Thaddeus Arroyo, Chief Executive
Officer for AT&T Mexico, LLC and Iusacell, will lead the
combined company.
Mexico is the second-largest
economy in Latin America and has a
growing middle class. This economic strength, combined with
Mexico's close geographic,
economic and cultural ties to the U.S., make it an attractive place
for AT&T to invest.
AT&T's acquisition of Nextel Mexico was approved by the U.S.
Bankruptcy Court for the Southern District of New York, which is overseeing the
restructuring of NII Holdings. It was also approved by Mexico's telecom regulator IFT (Instituto
Federal de Telecomunicaciones). Swift action by IFT, aided by
recent regulatory reform by the Mexican government, has created a
positive climate for AT&T to invest significantly in
Mexico.
1AT&T products and services are
provided or offered by subsidiaries and affiliates of AT&T Inc.
under the AT&T brand and not by AT&T Inc.
About AT&T
AT&T Inc. (NYSE: T) helps millions of people and businesses
around the globe stay connected through leading wireless,
high-speed Internet, voice and cloud-based services. We're helping
people mobilize their worlds with state-of-the-art communications,
entertainment services and amazing innovations like connected cars
and devices for homes, offices and points in between. Our U.S.
wireless network offers customers the nation's strongest LTE signal
and the nation's most reliable 4G LTE network. We offer the best
global wireless coverage.* We're improving how our customers stay
entertained and informed with AT&T U-verse® TV and
High Speed Internet services. And businesses worldwide are serving
their customers better with AT&T's mobility and highly secure
cloud solutions.
Additional information about AT&T products and services is
available at http://about.att.com. Follow our news on Twitter at
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© 2015 AT&T Intellectual Property. All rights reserved.
AT&T, the AT&T logo and all other marks contained herein
are trademarks of AT&T Intellectual Property and/or AT&T
affiliated companies. All other marks contained herein are the
property of their respective owners.
Reliability and signal strength claims based on United States carriers' LTE. Signal strength
claim based ONLY on average LTE signal strength. LTE not available
everywhere.
*Global coverage claim based on offering voice and data roaming
in more countries than any other U.S. based carrier, and offering
the most wireless smartphones and tablets that work in the most
countries.
Cautionary Language Concerning Forward-Looking
Statements
Information set forth in this news release contains financial
estimates and other forward-looking statements that are subject to
risks and uncertainties, and actual results may differ materially.
A discussion of factors that may affect future results is contained
in AT&T's filings with the Securities and Exchange Commission.
AT&T disclaims any obligation to update or revise statements
contained in this news release based on new information or
otherwise.
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SOURCE AT&T Inc.