Televisa and Fintech agree to buy AT&T Mexico for $2 billion
The 50-50 consortium would pay with cash and secured debt, with closing expected in the first quarter of 2027 and subject to regulatory approvals.
Mexican telecom and media group Grupo Televisa and Fintech Holdings have agreed to buy AT&T's mobile phone business in Mexico for $2 billion, subject to adjustments, according to Televisa's press release dated Oct. 13, 2026. A consortium owned 50% by each partner would make the purchase.
AT&T Mexico is the country's second-largest mobile carrier. It had about 24.7 million subscribers on Dec. 31, 2025, according to the release.
Its consolidated revenue for the year was about $4.7 billion (85 400 million pesos, at 18.2542 pesos per dollar on Oct. 12) with operating income of about $77 million (1 400 million pesos), which is what remains of revenue after the costs of running the business.
The consortium plans to pay with cash on hand and secured debt without recourse, meaning lenders cannot go after the partners' other assets. Televisa will account for its stake under the equity method: as an investment in a joint venture, not folded into its own financial statements.
The deal is expected to close in the first quarter of 2027 if customary conditions are met, including regulatory approvals. The release does not name the authorities that must grant them.
AT&T will receive the payment in cash at closing, plus contractual and contingent benefits whose amounts it did not disclose, according to EFE. The U.S. company said it prefers to concentrate its resources at home, where it plans to expand its fiber and 5G networks.
AT&T entered Mexico in 2014 and 2015 by buying Iusacell and Nextel, and in 2024 it sold its stake in Sky Mexico to Televisa, according to the same agency. Business press had reported since May and June 2026 that Televisa was preparing the purchase.
Televisa's release mentions no changes to rates or branding, so none has been announced for AT&T customers. Full terms are in an information statement that Televisa says is available on the websites of the Mexican Stock Exchange and the CNBV, the banking and securities regulator.
