AT&T to expand in Latin America with America Movil deal
NEW YORK (Reuters) - AT&T Inc is planning to announce on Wednesday that it will expand its Latin American reach for business customers through a collaboration with Mexican billionaire Carlos Slim's America Movil.
AT&T will be able to do business in 15 countries, including Argentina, Chile and Colombia, through connections with America Movil networks, according to a representative for AT&T.
Terms of the agreement were not disclosed. The deal will also extend AT&T's reach to Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru and Uruguay.
Previously, AT&T's Latin American focus was primarily on Mexico and Brazil.
AT&T has a long-standing relationship with America Movil and the U.S. company holds a roughly 9 percent stake in the company and has executives on its board of directors.
Since AT&T has been exploring possibilities for expanding in Europe and America Movil has a presence there, some analysts have speculated the companies could combine forces in Europe.
(Reporting by Sinead Carew; Editing by Nick Zieminski)
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Missouri executes man for killing good Samaritan motorist in 1994
- Thai military chief rebuffs meeting request in blow to protesters |
- Apple scores legal victory over Samsung in South Korea
Time magazine named Pope Francis as its Person of the Year, crediting him with shifting the message of the Catholic Church. Slideshow