Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
AT&T has agreed to acquire Nextel Mexico for $1.88 billion, less than two weeks after completing the $2.5 billion purchase of Iusacell.
Nextel provides mobile services to approximately 3 million customers and its network covers around 76 million people. AT&T said on Monday that it will take ownership of Nextel’s wireless properties, including spectrum licences, network assets, retail stores and subscribers. It aims to close the transaction in mid-2015.
“The transaction with AT&T ensures that customers of Nextel Mexico will continue to be served by a high quality telecommunications company committed to providing innovative products, services and solutions to the market,” said a statement from Steve Shindler, CEO of Nextel Mexico’s parent company NII Holdings, which is currently under bankruptcy protection.
Nextel Mexico will become part of AT&T’s North American service area encompassing the U.S. and Mexico. It will treat the customers and businesses it covers as though they are on a single network and provide a consistent customer experience. Original post at Total Telecom