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AT&T Buys Mexico Mobile Carrier Iusacell for $2.5 Billion

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AT&T Inc., the second-largest U.S. mobile-phone carrier, agreed to buy Grupo Iusacell SA from billionaire Ricardo Salinas for $2.5 billion to expand further into Latin America.

AT&T is gaining 8.6 million subscribers with the purchase of closely held Iusacell, the third-largest wireless operator in Mexico that has struggled to compete against Carlos Slim’s America Movil SAB. The price includes $800 million in debt. The acquisition will take place after Salinas closes a deal to buy the 50 percent of Iusacell owned by Grupo Televisa SAB, AT&T said yesterday in a statement.