AT&T has met with advisors to sell-off its mobile business in Mexico for more than $2 billion after competing against billionaire Carlos Slim for years.
Bloomberg reported discussions are ongoing as a final decision is yet to be made. It also stated there’s no guarantee AT&T will find a buyer.
A representative for AT&T told Mobile World Live the company does not comment on rumours or speculation.
In 2014, AT&T paid $2.5 billion to buy Mexican mobile operator Iusacell from Grupo Salinas and then announced a $1.9 billion deal to acquire the Mexican business of NII Holdings a year later.
The news agency stated AT&T has about 18 per cent of the mobile market share in Mexico, compared to Telcel’s 64 per cent. Telcel is part of Mexico-based America Movil which is controlled by Slim and his family.
Bloomberg noted AT&T has invested more than $10 billion in Mexico. As of December 2024, it had more than 23 million total subscribers.
During last month’s Q2 earnings, the mobile operator reported revenue in its Latin America division was down 4.4 per cent year-over-year to $1 billion.
Source: Mobile World Live
Image Credit: AT&T
