AT&T is one step closer to creating a North American telecom behemoth

AT&T has completed its acquisition of companies operating under the name Nextel Mexico from NII Holdings, Inc., including spectrum licenses, network assets, retail stores and subscribers in Mexico, for $1.875 billion, less approximately $427 million of net debt and other adjustments. Earlier this year, AT&T acquired Mexican wireless provider Iusacell. AT&T will integrate Iusacell and Nextel into one company focused on bringing more choices, better service and faster mobile Internet speeds to more locations throughout Mexico. AT&T plans to create the first-ever North American Mobile Service area, which will cover more than 400 million consumers and businesses in Mexico and the United States. Thaddeus Arroyo, Chief Executive Officer for AT&T Mexico, LLC and Iusacell, will lead the combined company. Mexico is the second-largest economy in Latin America and has a growing middle class. This economic strength, combined with Mexico’s close geographic, economic and cultural ties to the U.S., make it an attractive place for AT&T to invest.