AT&T Inc has closed its USD2.5 billion acquisition of Mexican wireless provider Iusacell from Grupo Salinas. AT&T acquired all of Iusacell’s wireless properties, including licences, network assets, retail stores and approximately 9.2 million subscribers. The Iusacell wireless network currently covers about 70% of Mexico’s approximately 120 million citizens.
With its takeover of Iusacell, AT&T plans to create the first ever ‘North American Mobile Service’ area covering more than 400 million consumers and businesses in Mexico and the US. Randall Stephenson, AT&T chairman and CEO, commented: ‘It won’t matter which country you’re in or which country you’re calling – it will all be one network, one customer experience.’ Stephenson added: ‘The quick approval of this deal is one more example of why Mexico is an attractive place to invest’.
Iusacell will continue to be headquartered in Mexico City. AT&T has identified a team, to be based in Mexico City, to oversee the Iusacell integration effort. As previously discussed, Grupo Salinas has retained ownership and control of Iusacell’s Total Play triple-play business, as well as corporate fixed line provider Enlace.