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AT&T reaches $2.5B deal to acquire Mexican telecommunication company [New Vision (Uganda)](New Vision (Uganda) Via Acquire Media NewsEdge) AT&T Inc. has agreed to acquire Mexican telecommunications company Iusacell for $2.5 billion. The Dallas-based company entered into the agreement with Grupo Salinas for the acquisition, which comprises Iusacell's wireless properties, including licenses, network assets, retail stores and about 8.6 million subscribers. The acquisition will occur after Grupo Salinas, which owns 50 percent of Iusacell, closes its purchase of the other half it doesn't own. The deal first will require approval from Mexico's telecom regulator Instituto Federal de Telecomunicaciones and Mexico's National Foreign Investments Commission. AT&T expects the transaction to close in the first quarter of 2015. Iusacell, which will keep its headquarters in Mexico City, provides wireless services to customers in Mexico under Iusacell and Unefon brand names. It covers about 70 percent of the 120 million people living in Mexico. The company is owned by Ricardo Salinas, who has been named as Mexico's fourth richest person, according to Bloomberg. COPYRIGHT (c) 2014 NEWVISION. ALL RIGHTS RESERVED. Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |