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AT&T Enters Deal With America Movil, Announcement Likely on Wednesday

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AT&T Inc. (NYSE: T),  the second largest wireless carrier in the United States, is likely to announce its business expansion plans in Latin America on Wednesday. AT&T representatives said that the company has entered in a deal with Mexico’s billionaire Carlos Slim, the owner of America Movil. Through strategic collaboration with America Movil, AT&T will be able to gain traction in 15 South American countries, which include Argentina, Chile and Colombia.

Besides, using American Movil’s network connections will also allow AT&T to expand its reach in Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru and Uruguay, said the company’s representatives, according to Reuters.

The Company mainly focused on Brazil and Mexico, previously.

The terms of the agreement were not disclosed.

The U.S. wireless communications giant has a long-standing association with America Movil. AT&T holds nearly 9% stake in America Movil and has executives on its board.

Some industry analysts believe that AT&T entered in the deal as it wants to expand its business in Europe. America Movil has a presence in Europe. By reinforcing its existing relationship with America Movil, AT&T, is probably eyeing the European market, analysts said.








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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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