AT&T Inc., the second-largest U.S. wireless carrier, agreed to acquire Grupo Iusacell SA from billionaire Ricardo Salinas for $2.5 billion to expand further into Latin America.
AT&T is gaining 8.6 million subscribers with the purchase of closely held Iusacell, the third-largest mobile-phone operator in Mexico that has struggled to compete. The purchase price includes Iusacell’s debt, and the acquisition will take place after Salinas closes a deal to buy the 50 percent of Iusacell owned by Grupo Televisa SAB, AT&T said today in a statement.
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