AT&T, a telecommunication services provider, completed the acquisition of the wireless business in Mexico of NII Holdings, an American holding company, for $1.9bn. AT&T’s acquisition of Nextel Mexico was approved by the US Bankruptcy Court for the Southern District of New York, which is overseeing the restructuring of NII Holdings. It was also approved by Mexico’s telecom regulator IFT (Instituto Federal de Telecomunicaciones). Swift action by IFT, aided by recent regulatory reform by the Mexican government, has created a positive climate for AT&T to invest significantly in Mexico.