The second largest carrier in the United States is making a move to acquire Mexico’s Grupo Iusacell SA for $2.5 Billion, expanding their customer network by 8 million subscribers and pushing farther into Latin America.
The deal will include covering $800 Million of Iusacell debt, and should make Mexico’s third largest more competitive, especially as Mexico is building out more middle class services for consumers.
“Our acquisition of Iusacell is a direct result of the reforms put in place by President Peña Nieto to encourage more competition and more investment in Mexico. Those reforms together with the country’s strong economic outlook, growing population and growing middle class make Mexico an attractive place to invest,” said Randall Stephenson, AT&T chairman and CEO. “Iusacell gives us a unique opportunity to create the first-ever North American Mobile Service area covering over 400 million consumers and businesses in Mexico and the United States. It won’t matter which country you’re in or which country you’re calling – it will all be one network, one customer experience.”
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