AT&T to Buy Mexican Carrier Iusacell

AT&T agreed to buy Mexican wireless company Iusacell for $2.5 billion, inclusive of debt, AT&T said Friday. The deal gives AT&T all the Mexican carrier’s spectrum licenses, network assets, retail stores and approximately 8.6 million subscribers, AT&T said. Grupo Salinas, current owner of 50 percent of Iusacell, must first close its announced purchase of the other 50 percent it doesn’t own, AT&T said. “Mexico is still in the early stages of mobile Internet capabilities and adoption, but customer demand for it is growing rapidly,” said AT&T CEO Randall Stephenson. “This is an opportunity for us to provide Iusacell the financial resources, scale and expertise to accelerate the roll-out of world-class mobile Internet speeds and quality in Mexico, like we have in the United States.” The company also offers service under the Unefón brand.