On Monday morning, AT&T (T ) announced that it has entered into an agreement with NII Holdings to acquire NII’s wireless business in Mexico.
AT&T has agreed to purchase NII Holdings’ wireless business in Mexico for $1.875 billion, less the outstanding net debt of the business. Under this agreement, AT&T will acquire all companies that operate under Nextel Mexico. The transition is subject to a bankruptcy auction and approval by the U.S. Bankruptcy Court.
This deal will help AT&T expand its mobile internet business in Mexico.
Stock Performance
Shares of T were mostly flat during pre-market trading Monday.
The Bottom Line
AT&T Inc. (T ) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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