Deals
AT&T Faces Off Against Former Ally Slim With Second Mexico Deal
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AT&T Inc. is accelerating a push south of the border with its second acquisition in Mexico this year, solidifying a face-off with former longtime ally Carlos Slim.
The U.S. phone company is paying $2.5 billion for Grupo Iusacell SA, a struggling third-place mobile-phone operator in Mexico that competes with Slim’s America Movil SAB. AT&T is already buying DirecTV, a move that aligns it with one of Slim’s fiercest Mexican rivals, Grupo Televisa SAB. To help win approval for DirecTV, AT&T had to sever ties with America Movil.