Tag - NII Holdings
AT&T has completed its acquisition of Nextel Mexico from NII Holdings. Approved by the US Bankruptcy Court for the Southern District of New York, overseeing the restructuring of NII Holdings, as well as Mexico's telecom regulator IFT, the transaction costs AT&T $1.88 billion and grants them the spectrum licenses, network assets, retail stores, and subscribers covered by the network. This is the second Mexico-related purchase completed by the carrier, having already acquired Iusacell.
AT&T has agreed to buy its second carrier in Mexico, a few months after purchasing Iusacell. The pending acquisition of Nextel Mexico from NII Holdings will cost AT&T $1.875 billion, minus any outstanding debt, with the purchase giving AT&T a considerable foothold in the Mexican wireless market, and expanding its reach further outside the United States.
In spite of promises to the contrary earlier this year, Sprint is indeed looking to sell its iDEN push-to-talk network, according to CNBC. Although no sources have been cited by the TV network, Sprint is already said to be negotiating with NII Holdings for a deal, as well as with separate private equity investors. NII operates primarily in Latin American countries, and is one of the few companies outside of Sprint to rely on iDEN.