AT&T acquires Nextel Mexico for $1.9 Billion

AT&T acquires Nextel Mexico for $1.9 Billion

AT&T acquires Nextel Mexico for $1.9 Billion

AT&T announced on Monday agrees to buy Nextel Mexico for $1.9 Billion. Its another acquisition after purchase big wireless provider Iusacell by AT&T for $ 2.5 Billion in November.

 International expansion is one of main priorities by AT&T, when was bought DirecTV by communications giant for $ 48.5 Billion.

 “The transaction with AT&T ensures that customers of Nextel Mexico will continue to be served by a high quality telecommunications company committed to providing innovative products, services and solutions to the market,” said Steve Shindler, chief executive officer of NII Holdings. “We believe that the sale of Nextel Mexico represents an opportunity to reduce our operational risk, deliver value to our stakeholders and provide the liquidity that will position us to emerge from Chapter 11 reorganization with a healthy balance sheet and fund our business plan in Brazil. The sale also allows our Mexico team to continue to grow and thrive, capitalizing on the opportunities in the Mexican telecom market with the support of one of the largest telecom companies in the world,” Shindler added.

 Acquisition of Nextel Mexico AT&T will gain about 3 million new subscribers and its wireless network holdings, which covers about 76 million customers including spectrum licenses, network assets and retail stores.

 AT&T is cheering up by last moves by the Mexican government and continuing in Mexican telecom market and  investments from new investors.

 The deal is subject of Mexican regulatory approval. The transaction is expected to close by half of the year.

Mr. Stakebay says:

 The combination of Iusacell and Nextel Mexico support to expand in Latin America and  create first North American Mobile Service  Network in United States and Mexico with 400 million consumers and businesses to bring greater competition and faster mobile Internet speeds to the Mexican wireless market.

 

CEO of AT&T ………………Randall L. Stephenson ……..(2007 – present)………$ 26 000 000 (2013)

CEO of NII Holdings………… Steven M. Shindler…………(2013 – persent)………. $ 2 215 742 (2013)

 

AT&T

NEXTEL

Revenue

$ 128.752  billion (2013)

$ 4.772 Billion (2013)

Operating income

$ 30.479  billion (2013)

$ – 510.858 Million (2013)

Profit

$ 18.25  billion (2013)

$ – 1.649 Billion (2013)

Total assets

$ 277.78 billion (2013)

$ 8.679 Billion (2013)

Total Equity

$ 90.99  billion (2013)

$ 355.387 Million (2013)

Employees

91,272  (2013)

5206 (2013)

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