AT&T plans to make US$3bn investment in Mexico mobile network
Bigwig US wireless carrier AT&T has revealed in an announcement made on June 25 that it has earmarked an investment of US$3 billion in the mobile network in Mexico.
The massive investment-related announcement is noteworthy because AT&T forayed into the Mexican mobile service business only earlier this year, with its US$4.4 billion acquisition of Grupo Iusacell and Nextel Mexico.
According to the announcement, a US$3 billion investment will be made by AT&T to facilitate the expansion of its high-speed, mobile Internet service to 100 million people in Mexico by the year 2018. AT&T said that it plans to reach its network to 40 million people in the next six months; and to 75 million people by the end of 2016.
The plans to invest in Mexico mobile network were outlined by AT&T CEO Randall Stephenson during the course of a meeting with Mexican President Enrique Peñ a Nieto on Thursday. About the investment, Stephenson and Nieto said in statements that the move has been enabled by the recent telecom reforms introduced in Mexico.
In reference to the investment, Stephenson said in a release: "We are building a network in Mexico that is capable of bringing innovation and economic vitality to the country, just as we have done in the U. S."
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