AT&T to acquire Mexico's Iusacell for $1.7B

AT&T Inc. agreed to pay $1.7 billion to acquire Mexico's third-largest wireless operator, Iusacell, as it seeks to grab a slice of a market with lower cellular penetration than the United States and faster potential growth.

The deal would mark the second major acquisition by AT&T this year, which also took over DirecTV for $48.5 billion, according to Reuters.

Iusacell serves 8.6 million customers.

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