AT&T buying Nextel Mexico for $1.9 billion

SHARE AT&T buying Nextel Mexico for $1.9 billion
AT_and_T_Super_Fast_I_Newm.jpg

DALLAS — AT&T is buying Nextel Mexico from NII Holdings for about $1.88 billion, minus the company’s debt.

The deal will give AT&T Inc. companies that operate under the name Nextel Mexico and hold all of the wireless properties in Mexico held by NII Holdings Inc. That includes spectrum licenses, network assets, retail stores and about 3 million subscribers.

Nextel Mexico’s network covers about 76 million people.

AT&T said Monday that it plans to create the first-ever North American Mobile Service area covering more than 400 million consumers and businesses in Mexico and the U.S. This will include Nextel Mexico’s subscribers.

AT&T plans to combine Nextel Mexico with lusacell, a Mexican wireless provider it agreed to acquire in November. The company said that this will help it to more quickly improve and expand its mobile Internet service to those in Mexico, particularly to individuals who live outside major metropolitan areas.

The acquisition is subject to a bankruptcy auction and approvals by the U.S. Bankruptcy Court for the Southern District of New York, which is currently overseeing the restructuring of NII Holdings. The company, based in Reston, Virginia, sought bankruptcy protection in September.

The deal is also subject to regulatory approval by Mexico’s telecom regulator Instituto Federal de Telecomunicaciones.

The sale is expected to close in mid-2015.

The Latest
Getz isn’t naming names, but it’s known he’s listening on everyone, Garrett Crochet, Luis Robert Jr. and Erick Fedde included. He acknowledged five or six players could be dealt as the Sox build for the future.
Two things are already clear: Sonya Massey, who called 911 for help, should still be alive. And Sean Grayson, who held six police jobs in four years, probably had no business being a Sangamon County deputy.
Hoover, called “one of the most notorious criminals in Illinois history,” is scheduled to make a rare public appearance in court Sept. 26. He claims to have renounced the criminal organization he led.
The Cubs lost to the Brewers 3-2 on Wednesday to fall 11 games back in the division standings.
The Sox’ run toward the 1962 Mets’ dreaded 120 losses looks more realistic by the day.