American wireless carrier AT&T today announced the closure of its $2.5 billion deal to purchase telecom service provider Iusacell that has 9.2 million subscribers in Mexico.
Grupo Salinas, the earlier promoter of Iusacell, has retained Iusacell’s Total Play businesses.
Iusacell’s wireless properties, including licenses, retail stores and network that cover about 70 percent of Mexico’s nearly 120 million citizens will be part of AT&T.
AT&T will invest further in Mexico to enhance network quality. AT&T sees a significant opportunity to increase smartphone adoption and mobile Internet usage in Mexico. Smartphone penetration in Mexico is half of the U.S.
Randall Stephenson, AT&T chairman and CEO, said: “We look forward to bringing more wireless competition to Mexico along with an improved mobile Internet experience for customers. Expanding and enhancing Iusacell’s mobile network to cover millions of additional consumers and businesses is our top priority.”
The acquisition of Iusacell enables AT&T to create the first-ever North American Mobile Service area covering more than 400 million consumers and businesses in Mexico and the United States.
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