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.
Shares of T were mostly flat during pre-market trading Monday.