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The U.S.-based AT&T has agreed to sell its mobile phone business in Mexico for $2 billion to a consortium formed by Grupo Televisa and Fintech Holdings, an operation that marks its exit from the Mexican market after more than a decade of investment and the return of the media giant to direct operation of cellular services.
Televisa stated this Tuesday, in a communication to the Mexican Stock Exchange, that each partner will hold 50% of the purchasing consortium and that the acquisition will be financed through cash and guaranteed debt.
AT&T noted that the price will be paid in cash at closing, subject to adjustments, in addition to contractual and contingent benefits, without detailing their amounts.
The transaction must obtain Mexican regulatory authorizations and is expected to conclude in the first quarter of 2027.
According to figures reported by Televisa, AT&T Mexico had approximately 24.7 million subscribers at the end of 2025 and recorded revenue of 85.4 billion pesos ($4.7444 billion) and an operating profit of 1.4 billion pesos ($77.8 million).
Televisa indicated that it will reflect its participation as an investment in a joint venture, without directly incorporating the entirety of the operator's revenue and expenses into its consolidated accounts.
For its part, AT&T justified the sale due to its strategy of concentrating resources in the United States, where it intends to expand its fiber optic and fifth-generation (5G) mobile networks.
The U.S. company highlighted Televisa's experience in fixed internet and the financial capacity and knowledge of the Mexican mobile market provided by Fintech Holdings.
The operation would reconfigure competition against Telcel, of América Móvil, owned by Mexican tycoon Carlos Slim, which dominates Mexican cellular telephony, and would add to the internet, pay television, and telephony services that Televisa markets through its cable businesses.
Additionally, Fintech, linked to investor David Martínez, participated in a capital increase of Televisa announced in June, after which it was expected to reach a direct and indirect stake of 22.3% once the subscribed shares were converted.
AT&T entered Mexico between 2014 and 2015 with the acquisitions of Iusacell and Nextel.
Previously, Televisa had been a shareholder of Iusacell, an interest it exited precisely to allow its sale to the U.S. group.
In 2024, Televisa also acquired AT&T's stake in Sky Mexico and went on to control 100% of that pay television company.
The companies did not detail possible changes to rates or the AT&T Mexico brand.
[Publicidad]