AT&T to buy Nextel Mexico for $1.88B

AT&T on Monday took another step in its drive into Mexico by agreeing to buy Nextel Mexico for $1.88 billion, its second big deal in the country.

This month, the Dallas-based carrier became the third largest in the country when it closed on a $2.5 billion acquisition of Grupo Iusacell SA. AT&T now counts 9.2 million subscribers in Mexico, according to the Wall Street Journal.

Its purchase of Nextel Mexico includes a wireless network covering roughly 76 million people. It adds 3 million new subscribers.

The acquisition will need approval of the U.S. Bankruptcy Court and Mexican regulators, and will be conducted through an auction administered by the court.

Read more from the Wall Street Journal.