AT&T (T) Stock Gaining on Mexico Expansion Talks

NEW YORK (TheStreet) -- Shares of AT&T (T) are gaining 1% to $34.97 in Thursday's midday trading following the announcement of the company's latest strategy to expand its markets to Mexico.

The company is planning to create the first seamless network within the U.S. and Mexico and become a leader in the industry, The Wall Street Journal reported.

"Today in Mexico, we have the deepest spectrum position in the country,"AT&T CEO Randall Stephenson told attendees at the JPMorgan Global Technology, Media and Telecom Conference on Tuesday."Utilizing that spectrum position to perhaps deploy broadband over wireless tech is also something we're looking very closely at."

Stephenson said that the Mexican market was attractive for many reasons: it was underdeveloped as far as capabilities and it also recently passed new legislation that made it easier for new entrants to come into the market, according to the Dallas Business Journal.

Earlier this quarter, the company bought Mexico's telecommunications company Iusacell for $2.5 billion, and in late April announced its $1.88 billion completion of its acquisition of Nextel Mexico from NII Holdings (NIHDQ), which provides mobile communications services in Argentina and Brazil.

According to the company, it will merge Iusacell and Nextel into a single company for wider coverage and as part of its plan to create "the first-ever North American Mobile Service area."

Additionally, a Reuters report stated that the telecommunications and wireless communications services provider is preparing to bring connected car users exclusive content, including videos and games that can be streamed onto personal mobile devices later this year.

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