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AT&T acquires Mexico's Iusacell for $2.5B

Nov 10, 2014 - The Deal Pipeline
Mergers and Acquisitions

AT&T Inc. (T) is making an anticipated foray into the Mexican wireless business with the $2.5 billion purchase of Iusacell SA from Grupo Salinas.

"Mexico is still in the early stages of mobile Internet capabilities and adoption, but customer demand for it is growing rapidly," AT&T chairman and CEO Randall Stephenson said in a press release announcing the deal on Friday.

Iusacell, Mexico's third-largest mobile carrier, would complement the satellite TV operations in Mexico and other L...