AT&T to Buy Nextel Mexico for $1.88 Billion

AT&T said it’s buying NII Holdings’ Nextel Mexico wireless business for $1.88 billion. The deal includes Nextel Mexico’s spectrum licenses, network assets and 3 million subscribers. AT&T said its purchase of Nextel Mexico will “support AT&T’s plans to bring greater competition and faster mobile Internet speeds to the Mexican wireless market.” The deal also will advance AT&T’s plan to create North American mobile service area that covers more than 400 million consumers in Mexico and the U.S., the carrier said Monday. AT&T said it expects the deal to close by the middle of the year, pending approval by a federal bankruptcy court in New York “which is overseeing the restructuring of NII Holdings.”