AT&T to buy NII Holdings' wireless business in Mexico
Jan 26 (Reuters) - AT&T Inc said it will buy bankrupt NII Holdings Inc's wireless business in Mexico for $1.875 billion, less outstanding net debt.
NII Holdings, the parent of Nextel operators in Latin America, filed for bankruptcy protection in the United States in September after struggling with $5.8 billion in debt and fierce competition in Brazil and Mexico.
The transaction is subject to a bankruptcy auction and approvals by the U.S. Bankruptcy Court for the Southern District of New York, AT&T said in a statement. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Sriraj Kalluvila)
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