AT&T $2.5 billion acquisition of lusacell

Overview:

• AT&T has acquired Mexican mobile company lusacell for $2.5 billion from Grupo Salinas.
• Grupo Salinas owned half of Lusacell prior to the transaction and acquired the other half from a Grupo Televisa affiliate so it could sell the entire company to AT&T.
• AT&T will acquire 8.6 million new subscribers through the deal. The company is actively trying to increase its Latin America business.
• This transaction came in the wake of Mexico's 2013 and 2014 telecommunications reforms, designed to boost competition in the sector.
• Sullivan & Cromwell (Sergio Galvis, Werner Ahlers, Nader Mousavi, Zachary Jacobs, Mimi Butler, Sergio Garcia Belmonte, Benjamin Fidler, Neal McKnight, Ari Blaut, Daniel Biller) acted for the acquirer alongside Galicia Abogados (Manuel Galicia, José Visoso, Carlos Chávez, Eugenio Sepúlveda) as Mexico counsel.
• Paul Weiss Rifkind Wharton & Garrison (Patrick Campbell, Ariel Deckelbaum, Tom de la Bastide, Ross Fieldston, David Huntington, Sarah Mudho, Scott Sontag) is advising the seller Nader Hayaux & Goebel as Mexico counsel.