More in Mexico

AT&T has agreed to buy NII Holdings’ (NIHD) Mexican wireless assets for $1.875 billion in its third deal to expand south of the U.S. border, according to Bloomberg. The acquisitions include companies that operate under the name Nextel Mexico, spectrum licenses, network assets, retail stores, and about 3 million customers. The transaction is subject to a bankruptcy auction and approvals by the U.S. Bankruptcy Court, which is overseeing the restructuring of NII Holdings, which filed for bankruptcy in 3Q14. The deal is also subject to approval by Mexico’s Telecom regulator. Wells Fargo Analyst, Jennifer Fritzsche, explained, “We view this move by AT&T as positive as the company acquired a valuable resource in NIHD’s spectrum that complements what it received via its Iusacell transaction. We believe the spectrum T now owns in Mexico will allow the company to build a competitive and high-quality network. We do not sense future acquisitions in Mexico (i.e., AMX’s divested piece) will be part of the plan.”