NEW YORK ( TheStreet) -- With media and telecom firms in a heated play for scale with a frenzy of mergers and acquisitions, AT&T (T) has honed its takeover strategy -- grow globally and invest heavily this year to expand its customer base.
With two major acquisitions shoring up its market share in Mexico and a takeover deal with satellite TV provider DirecTV (DTV), AT&T anticipates pausing its merger momentum to sift through its new business opportunities.
"We've got our hands full getting the DirecTV deal done," said John Stephens, senior vice president and chief financial officer, at a Wednesday afternoon speech at Jefferies 2015 Tech, Media and Telecom Conference. "You're going to see us focus on DirecTV and getting integrated in Mexico -- getting those networks built and figuring out what we have with regard to the additional optionality we have in Latin America with regard to DirecTV and satellite products."
In its effort to create one network in the U.S. and Mexico, AT&T last month wrapped up its acquisition of Nextel Mexico for $1.875 billion, less about $427 million of net debt and other adjustments. The telecom giant earlier this year closed its acquisition of Mexican mobile carrier Iusacell SA for $2.5 billion and now plans to fold Iusacell and Nextel into one company to anchor into Mexico's mobile market share with what it calls "the first-ever North American Mobile Service area" with more than 400 million customers and businesses in the U.S. and Mexico.