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Grupo Salinas Completes $2.5 Billion Sale of Mexican Wireless Provider

Paul, Weiss client Grupo Salinas completed the sale of Mexican wireless company Iusacell to AT&T for $2.5 billion, inclusive of Iusacell's debt. As part of the transaction, AT&T acquired all of Iusacell's wireless properties, including licenses, network assets, retail stores and approximately 8.6 million subscribers. The acquisition occurred after a series of complex transactions including the purchase from Grupo Televisa of the 50 percent of Iusacell that Grupo Salinas did not already own and the spin-out of Iusacell's Total Play Internet, digital television and digital telephony business.

The Paul, Weiss team included, among others, corporate partners Thomas de la Bastide, Ross Fieldston and David Huntington and counsel Claudine Meredith-Goujon, Didier Malaquin and Sarah Mudho; tax partner Scott Sontag; real estate partner Mitchell Berg; employee benefits partner Lawrence Witdorchic; litigation partners Jay Cohen and Mark Mendelsohn and counsel Richard Elliott and Bruce Searby; and environmental counsel William O'Brien.

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