AT&T Inc. said that it will buy bankrupt NII Holdings Inc's wireless business in Mexico for $1.875 billion, less outstanding net debt, Reuters reported today. NII Holdings, the parent of Nextel operators in Latin America, filed for bankruptcy protection in the U.S. in September after struggling with $5.8 billion in debt and fierce competition in Brazil and Mexico. AT&T plans to combine Nextel Mexico with Iusacell, which the company acquired in November for $1.7 billion. While Nextel Mexico has about 3 million subscribers, Iusacell, Mexico's third-largest wireless operator, has over 8 million subscribers.
