Mexico: US telecommunications giant AT&T will invest $3 billion to extend its high-speed, mobile Internet service to 100 million people in Mexico by 2018, the company announced Thursday.
Mexican President Enrique Pena Nieto and AT&T chief executive Randall Stephenson said in statements after meeting in Mexico City that the country`s recent telecommunications reform enabled such investments.
AT&T entered the Mexican mobile service business when it acquired Iusacell and Nextel Mexico for $4.4 billion earlier this year.
Mexico`s sweeping reforms are aimed at increasing competition in a sector dominated by billionaire Carlos Slim`s America Movil empire.
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