AT&T Adds 8.6 Million Customers in Mexico With Major Acquisition

Buys mobile carrier for $2.5 billion

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AT&T made a major move to expand its mobile network in Latin America, striking a deal to buy Mexico's Grupo Iusacell SA for a reported $2.5 billion.

With the purchase, AT&T—the second-largest mobile carrier in the U.S.—has added 8.6 million new customers, according to Bloomberg. Iusacell is the third-largest mobile carrier in Mexico and is owned by billionaire Ricardo Salinas. Before the deal closes, Salinas has to buy out Iusacell shares owned by Grupo Televisa SAB.

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