AT&T has agreed to sell its Mexican wireless business, AT&T Mexico, to a consortium owned equally by Mexican telecommunications company Grupo Televisa and Fintech Holdings for $2bn in cash.
The US telecommunications company said the disposal would focus its investment and capital allocation on US fibre and 5G networks.
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It said the transaction supports its long-term strategy in advanced connectivity and convergence.
AT&T chairman and CEO John Stankey said: “We have articulated a strong belief that the AI future will run on converged networks with dense fibre assets.
“This move positions AT&T Mexico to participate in that evolution and is consistent with our long-term strategy to focus our capital allocation on opportunities for growth in the vibrant US market.”
The consortium intends to finance the acquisition with existing cash and non-recourse secured debt.
According to its statement, AT&T Mexico ranks as Mexico’s second-biggest mobile network provider, with approximately 24.7 million wireless subscribers as of 31 December 2025.
The business offers mobile telephony, internet and value-added services under concession titles issued by Mexico’s Secretariat of Infrastructure, Communications and Transportation (SICT).
For the year ended 31 December 2025, AT&T Mexico recorded consolidated revenue of 85.4bn pesos ($4.64bn) and operating income of 1.4bn pesos.
Grupo Televisa said it expects to recognise the purchase as an investment in a joint venture under the equity method, in accordance with applicable accounting standards.
The $2bn price is subject to specified adjustments and includes additional contractual and contingent benefits.
Completion remains conditional on customary closing requirements, including regulatory approvals in Mexico.
The companies expect the transaction to close in the first quarter of 2027.
AT&T expects to classify AT&T Mexico as held for sale within continuing operations from its third-quarter 2026 filing with the US Securities and Exchange Commission, until the transaction is completed.
In its statement, AT&T said it “believes that Grupo Televisa and Fintech Holdings are well positioned to lead AT&T Mexico through its next phase of growth”, noting that “Grupo Televisa has a strong operating presence in Mexico with its fixed-line broadband business, and Fintech Holdings brings fresh capital, local knowledge, and operational expertise in the Mexican wireless sector”.
