AT&T Sells Mexico Business for $2 Billion to Televisa and Fintech

AT&T is preparing to leave Mexico's wireless market after agreeing to sell its Mexican telecommunications business to Grupo Televisa and Fintech Holdings in a $2 billion cash transaction. Announced on October 13, 2026, the deal represents a major change in AT&T's international strategy and could reshape competition among Mexico's mobile operators.

The transaction will transfer AT&T Mexico to a consortium jointly owned by Grupo Televisa and Fintech Holdings. Each company will hold a 50% stake in the acquiring consortium. The $2 billion purchase price is subject to certain adjustments, with additional contractual and contingent benefits also included in the agreement.

The sale is expected to close in the first quarter of 2027, subject to customary closing conditions and the necessary regulatory approvals in Mexico. Until the transaction is completed, AT&T will continue to report its Mexican operations as held-for-sale within its continuing operations.

Why Is AT&T Selling Its Mexican Business?

AT&T says the decision supports its long-term strategy of concentrating investment on its US wireless and fiber infrastructure. The company is directing resources toward high-speed connectivity, 5G expansion and the fiber networks it believes will be increasingly important as demand for AI-related services grows.

For AT&T, selling the Mexican business reduces the complexity of operating across two major markets and allows management to focus more closely on its domestic network investments. The company has emphasized the importance of combining wireless connectivity with extensive fiber infrastructure to support future digital services.

The decision does not mean AT&T is abandoning telecommunications. Instead, it reflects a strategic shift toward the markets and infrastructure where the company intends to concentrate its capital.

What Televisa and Fintech Will Gain From the Deal

AT&T Mexico is the country's second-largest mobile operator. According to figures cited by Televisa, the business had approximately 24.7 million wireless subscribers at the end of December 2025.

The acquisition gives Televisa a much larger mobile customer base alongside its existing fixed-line broadband, cable television and satellite television operations. This creates opportunities to combine mobile connectivity with home internet and other communications services.

Fintech Holdings brings capital, local market knowledge and experience in the telecommunications sector. Together, the buyers could develop bundled services designed to attract customers who want mobile and home internet connectivity from a single provider.

However, the deal's eventual success will depend on execution. Integrating operations, maintaining network quality, retaining subscribers and funding future infrastructure upgrades will be important challenges for the new ownership group.

AT&T Mexico's Revenue and Business Performance

The Mexican operation remains a substantial telecommunications business despite AT&T's decision to sell it. Televisa reported that AT&T Mexico generated approximately 85.4 billion Mexican pesos in revenue and 1.4 billion pesos in operating income during 2025.

Those figures show the scale of the business being transferred, although revenue and operating income alone do not reveal its full financial performance. The transaction's final economics will also depend on closing adjustments and the additional contractual and contingent benefits outlined in the agreement.

AT&T originally entered the Mexican mobile market in 2015 through acquisitions of Iusacell and Nextel Mexico. The company subsequently invested in expanding and modernizing its operations, seeking to compete with established local telecommunications providers.

Despite that investment, AT&T remained behind América Móvil, the dominant force in Mexico's mobile market through its Telcel brand. The sale now gives Televisa and Fintech the opportunity to take over an established network and customer base rather than building a nationwide mobile operation from the ground up.

How the Deal Could Change Mexico's Telecom Market

The acquisition could strengthen competition in a market where América Móvil has maintained a substantial lead. Televisa's combination of fixed broadband and mobile services could help it compete through bundled packages, broader customer relationships and additional network investment.

For customers, the ownership change does not automatically mean lower prices or better coverage. Those outcomes will depend on the buyers' investment plans, commercial decisions and ability to improve services while maintaining a sustainable business.

Regulatory approval will also be important. Authorities will need to assess the transaction under Mexico's applicable rules before the sale can be completed. Until then, AT&T Mexico remains under AT&T's ownership.

The transaction comes amid wider changes in Mexico's telecommunications industry, including Telefónica's move to sell its Mexican business. Together, these developments could alter the structure of the market and create opportunities for operators seeking to challenge established competitors.

What the Sale Means for AT&T Customers

AT&T has said the transaction will not affect the current service experience of its US consumer and enterprise customers, including customers traveling to Mexico. The announcement does not indicate an immediate change to those services.

For customers of AT&T Mexico, the longer-term implications will become clearer as the transaction approaches completion and the new owners outline their plans. Network investment, pricing, service continuity and the integration of mobile and fixed-line products will be key areas to watch.

The deal is not yet completed, and the expected first-quarter 2027 closing remains subject to regulatory approval and other conditions.

What Happens Next?

The immediate next step is the regulatory review and completion process. AT&T expects to classify its Mexican operation as held-for-sale in its third-quarter 2026 financial filing while continuing to report the business within continuing operations until the transaction closes.

For AT&T, the priority is to redirect attention and investment toward its US connectivity strategy. For Televisa and Fintech, the challenge is to turn a large subscriber base and established mobile network into a stronger competitive business.

The outcome will matter beyond the companies involved. It could influence the range of mobile and broadband packages available to Mexican consumers and determine how effectively a larger Televisa-backed operator can compete with América Móvil.

Sources

• AT&T — Official announcement: AT&T to Sell AT&T Mexico to Grupo Televisa and Fintech Holdings
• Reuters — Televisa and Fintech to Acquire AT&T's Mexican Unit for $2 Billion
• Light Reading — AT&T Follows Telefónica Out of Mexico With $2 Billion Sale