AT&T Sells Mexican Wireless Unit to Televisa and Fintech Holdings for $2 Billion

AT&T has agreed to sell its Mexican wireless business, AT&T Mexico, to a consortium of Grupo Televisa and Fintech Holdings for $2 billion in cash at closing, with the deal expected to close in the first quarter of 2027. The transaction is subject to customary closing conditions, including regulatory approvals.

The joint venture will be equally owned by Televisa and Fintech Holdings, with the two companies planning to finance the acquisition through a combination of cash on hand and non-recourse secured debt financing. Televisa is led by co-CEOs Bernardo Gomez and Alfonso De Angoitia, while Fintech Holdings is headed by billionaire David Martinez.

AT&T Mexico is the second-largest mobile operator in Mexico, with approximately 24.7 million wireless subscribers as of December 31, 2025. The unit reported consolidated revenue of 85.4 billion pesos and operating income of 1.4 billion pesos for that year. Bloomberg noted the deal positions the new consortium to rival billionaire Carlos Slim's dominant mobile phone empire in Mexico. Televisa expects to account for the acquisition as an investment in a joint venture under the equity method per IFRS standards.