AT&T to acquire Mexican operator Iusacell2014-11-10 09:37 by Daniela
Tags: AT&T, Iusacell
AT&T has announced that it will acquire Mexican operator Iusacell for $2.5 billion. The deal is expected to complete in early 2015, after it gets the approval of Mexican telecoms regulator Instituto Federal de Telecomunicaciones (IFT) and the National Foreign Investments Commission.
Iusacell has been popular with the Iusacell and Unefon brand names. It is Mexico's third largest mobile operator with 8.5 million connections and network that covers around 70% of Mexico's approximately 120 million population.
"Mexico is still in the early stages of mobile internet capabilities and adoption, but customer demand for it is growing rapidly," said AT&T CEO Randall Stephenson in a statement. "Iusacell gives us a unique opportunity to create the first-ever North American mobile service area covering over 400 million consumers and businesses in Mexico and the United States," he added. "It won't matter which country you're in or which country you're calling - it will all be one network, one customer experience."
Under the deal, AT&T will acquire all of Iusacell's properties, including licences, network assets, retail stores and subscribers. Iusacell's headquarter will still remain in Mexico, but it's unclear whether the carrier will keep its current name, or will change it.
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