AT&T says it will buy Mexican wireless company Iusacell for $2.5 billion including debt and says it plans to grow in Mexico.
The Dallas company says Iusacell has 8.6 million subscribers under the Iusacell and Unefón brand names with a network that covers about 70 percent of the population of Mexico. AT&T says reforms by President Enrique Peña Nieto were a factor in its decision to buy the company.
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Grupo Salinas owns 50 percent of Iusacell and announced Friday that it will buy the other half. AT&T will buy Iusacell after that deal closes and expects that to happen during the first quarter.