AT&T sells Mexico unit to Televisa, Fintech for $2 billion 

MEXICO CITY, Oct 13 (Reuters) - US ‌carrier AT&T said ​on ​Tuesday it agreed to sell its Mexican unit to a consortium made up of Mexico's Grupo Televisa and Fintech Holdings for $2 billion in ‌cash, as it sharpens its focus on domestic fiber and 5G ⁠networks and also leans into AI.

The deal is expected to close in the first quarter of ‌2027, pending regulatory approvals in ‌Mexico, AT&T said. Its Mexican unit, the country's second-largest mobile operator, had approximately 24.7 million subscribers as of December 2025, according to Televisa.

The deal's purchase price ​is subject to adjustments, plus additional contractual and contingent benefits, and will be funded through available cash and non-recourse secured debt financing, Televisa said.

Televisa and Fintech ⁠Holdings each own a 50% stake of the purchasing consortium.

Televisa is Mexico's largest broadcaster and the world's largest ​producer of Spanish-language content. Fintech is a private investment firm and holding company owned by the Mexican billionaire David Martinez.

"We have ​articulated a strong belief that the AI future ‌will run on converged networks with dense fiber assets," AT&T Chairman and CEO John Stankey said in a statement. "This move positions ⁠AT&T Mexico to participate in that evolution."

Shares in Grupo Televisa rose 5.3% in after-hours trading on the New York Stock Exchange following the announcement on Tuesday, while AT&T gained 1.6% to ⁠close at $22.85.

The deal ends AT&T's push into Mexico, which began with the 2014 purchase of ​lusacell and included the acquisition in 2015 of Nextel Mexico to take on America Movil's Telcel, the country's dominant wireless carrier.

AT&T's Mexican unit ended 2025 with revenue of 85.4 billion pesos ($4.65 ‌billion) and operating income of 1.4 billion pesos ($76.3 million), Televisa said.

The sale of AT&T's Mexico unit follows the Mexico departure of ‌Spanish telecoms giant Telefonica Movistar, which in April sold its Mexico business to a US-led ⁠consortium for $450 million as it ‌shifts its focus onto core ​markets in Europe.

($1 = 18.36 Mexican pesos)

(Reporting by Juveria Tabassum in Bengaluru and Raul Cortes in Mexico City; Editing by Shilpi Majumdar and ‌Jonathan Spicer )

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