AT&T completed its previously announced acquisition of Iusacell, a leading Mexican mobile operator, from Grupo Salinas for US$2.5 billion, inclusive of Iusacell debt.
The deal includes all of Iusacell’s wireless properties, including licenses, network assets, retail stores and approximately 8.6 million subscribers.
“The quick approval of this deal is one more example of why Mexico is an attractive place to invest,” said Randall Stephenson, AT&T chairman and CEO. “We look forward to bringing more wireless competition to Mexico along with an improved mobile Internet experience for customers. Expanding and enhancing Iusacell’s mobile network to cover millions of additional consumers and businesses is our top priority.”
With its acquisition of Iusacell, AT&T plans to create the first-ever North American Mobile Service area covering more than 400 million consumers and businesses in Mexico and the United States. “It won’t matter which country you’re in or which country you’re calling – it will all be one network, one customer experience,” said Stephenson.
Iusacell offers wireless service under both the Iusacell and Unefón brand names with a network that today covers about 70 percent of Mexico’s approximately 120 million people. AT&T plans to expand Iusacell’s network to cover millions of additional consumers and businesses in Mexico.
Iusacell operates a 3G GSM/UMTS network based on the same technology that AT&T uses in the United States. Iusacell owns between 20 and 25 MHz of 800 MHz spectrum, primarily in the southern half of the country, including Mexico City and Guadalajara, and an average of 39MHz of PCS spectrum nationwide.
Iusacell will continue to be headquartered in Mexico City. F. Thaddeus Arroyo, a 19-year AT&T executive, has been named to lead Iusacell as its Chief Executive Officer.
http://about.att.com/story/att_completes_acquisition_of_iusacell.html
