AT&T Inc said on Monday it would buy bankrupt NII Holdings Inc's wireless business in Mexico for $1.875 billion in a move to create a larger Mexican wireless player that will have a better chance of competing with No. 1 America Movil, Reuters reported. NII Holdings, the parent of Nextel operators in Latin America, filed for bankruptcy protection in the United States in September after struggling with $5.8 billion in debt and fierce competition in Brazil and Mexico. It is still exploring options for its larger Brazilian operations.

Latin America is turning into the world leader in corporate-bond defaults, Bloomberg News reported. Four companies in the region have skipped dollar-denominated debt payments this month, more than any other area and almost half the total in all of 2014. In a sign bond investors are increasingly concerned about Latin American companies’ ability to repay debt, borrowers led by Mexico’s oil-rig operators have pushed the amount of the region’s bonds trading at distressed prices to $58 billion, about a third of all emerging-market debt trading at such levels.

Altos Hornos de Mexico SA, the steelmaker known as Ahmsa, said it asked a judge to end its 15-year bankruptcy following an agreement with a majority of creditors that calls for repayment of $1.7 billion. Creditors will be called to a meeting to confirm their acceptance of the deal, which proposes a three-year payback in pesos, Ahmsa said in a statement today to the Mexican stock exchange. That session would pave the way to exit a restructuring case begun in 1999, the company said.

Mexican homebuilder Urbi has filed for bankruptcy protection to restructure its debt, the company said on Tuesday, Reuters reported. The creditors which have so far signed the restructuring plan held some 21.9 billion pesos ($1.55 billion) in debt, equivalent to around 53.3 percent of the total claims on Urbi, the company said in a statement. Urbi, Mexico's third-largest homebuilder in recent years, is following its bigger peers after struggling under heavy debt loads and slumping sales of their cheap, single-unit homes in developments often located far from urban centers.

No one expects Mexico to restructure its debt anytime soon. But if it ever does, so-called vulture investors like Mr. Singer’s Elliott Management will find it much harder to crash the debt restructuring party – as they have done so successfully in Argentina – thanks to tough new provisions written into the contracts of new bond issues for the country, the International New York Times DealBook blog reported.

Mexico is attracting record levels of foreign investment, boasts a stable economy, and is becoming an export powerhouse in areas like cars and aerospace. But when it comes to one economic measure—its minimum wage—the country lags behind only Haiti in the hemisphere, The Wall Street Journal reported. Pressure is rising on the federal government to change that.

Amado Yáñez Osuna, who headed Oceanografía, the oil services company at the center of a $400 million fraud involving Citigroup’s Mexico subsidiary, has been arrested, according to Mexico’s attorney general’s office, the International New York Times DealBook blog reported. The announcement, made late Wednesday, suggests that prosecutors are close to building a case against Mr. Yáñez in the scheme, which forced Citi to reduce its 2013 earnings by $235 million. The arrest warrant was issued against Mr.

The head of Mexico's central bank said Tuesday that he supports the dramatic measures that central bankers in advanced economies have taken to stabilize their economies, but emerging markets must be mindful of the spillover effects these policies may have, The Wall Street Journal reported. "The unconventional monetary policies have…established the ground for a recovery in economic activity," said Agustin Carstens, governor of Mexico's central bank, at a conference in Portugal sponsored by the European Central Bank. "I'd rather have them than not," he said.

The fugitive businessman who controlled Mexicana airlines before it went bankrupt and was recently charged with illegal use of the airline's funds has asked for asylum in the United States, a federal official said Wednesday, the Associated Press reported. Assistant Attorney General Mariana Benitez said that Gaston Azcarraga is in the United States and has applied for asylum following the expiration of his visa. U.S. officials notified Mexico that Azcarraga is in their country a few days ago, Benitez said. She added that Mexico requested that he be extradited but U.S.

Troubled Mexican homebuilder Homex has filed for bankruptcy after gaining the support of a majority of its creditors, the company said on Thursday, Reuters reported. The Culiacan-based company, which has struggled with a heavy debt load and slumping home sales, said it was seeking additional financing during the bankruptcy proceedings. Mexican homebuilders have been hit hard since the government shifted to a policy in the last few years that gives priority to subsidies for apartment purchases by new home buyers, hurting sales of cheap houses built by Geo, Homex, and Urbi.