Mexican telecommunications group America Movil SAB de CV (NYSE:AMX) unveiled an agreement to buy US mobile virtual network operator (MVNO) Star Wireless Group Inc.
The Mexican group will carry out the transaction through its unit Tracfone Wireless Inc, it said, without disclosing any financial details.
Star Wireless provides prepaid plans for voice, messaging and data among other services to around 1.4m customers.
Completion is seen to take place in the second quarter of 2013, pending regulatory approvals and other customary conditions.
AMX had a portfolio of 262.9m wireless subscribers and 65.3m fixed revenue generating units in the Americas as of 31 March 2013.