"America Movil (AMX) announced that it will pay US$905 million to buy 100% of Nextel Brazil. The acquisition is pending to regulatory approval. Claro, the Brazilian subsidy of America Movil, is the second biggest operator in Brazil and closed 2018 with 24.6% market share. Nextel on the other hand, is the fifth-largest operator in Brazil with a 1.41% share or 3.3 million users. Nextel also has its own nationwide network and holds valuable spectrum licenses in Brazil. AMX has been looking for growth through acquisitions in the Brazilian market. In 2016, AMX bid for Oi but the acquisition was too large to be approved by the regulators due to market concentration laws. In this case, Claro and Nextel together will still be smaller than Vivo (Telefonica Brazil), which is the market leader. This is AMX’s second major acquisition in this year having already acquired Telefonica’s subsidiaries in Guatemala and Salvador. For NII, Nextel’s parent company, this is the end of its presence in LATAM." – Tina Lu