AT&T has agreed to acquire Nextel Mexico, a carrier owned by NII Holdings, Inc. AT&T will pony up $1.875 billion, less the outstanding net debt of Nextel Mexico.
In exchange for its hard-earned dollars, AT&T will get all of Nextel Mexico’s spectrum licenses, network assets, retail stores, and its around 3 million subscribers. Nextel Mexico’s network is said to cover approximately 76 million people.
When it completed its acquisition of Iusacell earlier this month, AT&T said that its goal was to build “the first-ever North American Mobile Service area” that’ll cover more than 400 million people and businesses in the U.S. and Mexico. This acquisition of Nextel Mexico will help AT&T reach that goal, and it’ll be good for AT&T customers that frequently travel to Mexico. The deal will also help those living in Mexico because it allows AT&T to improve and expand on Nextel Mexico’s existing wireless service.