Mexico's America Movil buys US firm Simple Mobile
MEXICO CITY (AP) — Mexico's America Movil cellphone carrier has signed an agreement to buy U.S. wireless carrier Simple Mobile.
America Movil says its U.S. subsidiary Tracfone Wireless Inc. will acquire Simple Mobile, which has over 1 million subscribers.
The purchase caps a week of acquisitions by America Movil, Latin America's largest cellphone carrier controlled by Carlos Slim, the world's richest man.
In a statement Thursday, America Movil said it expects to close the deal during the second quarter. It did not provide figures on the cost of the acquisition.
Simple Mobile is a "mobile virtual network operator." Such operators bundle or resell space on radio spectrum or wireless networks.
On Tuesday America Movil announced a euro2.6 billion ($3.4 billion) public offer to acquire an additional 23.2 percent of Dutch carrier Royal KPN NV.
News Photo Galleriesview all
- 13061Oklahoma tornadoes: Plaza Towers Elementary School teacher shoved students into bathroom as wall collapsed
- 11652Oklahoma tornadoes: Cost, custom keep basements scarce
- 5853Oklahoma tornadoes: The 'Big Dog,' the little boy and the hug that triumphs over tragedy
- 5268Downtown wish list includes Super Target
- 4547OU softball: Sooners inspired by Casey Angle, run-rule Texas A&M
- 4352Finding Addyson – One family's struggle in the Moore tornado
- 4093Oklahoma City pastor will face trial in fatal shooting of son-in law