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.

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