AT&T Sells Mexico Wireless Business to Televisa for $2 Billion

AT&T Inc. (NYSE: T) has agreed to sell its Mexican wireless operations to Grupo Televisa SAB (NYSE: TV) and Fintech Holdings Inc. for $2 billion in cash, ending its decade-long effort to compete in Mexico's telecommunications market.

The deal, which includes additional contractual and contingent benefits, allows the U.S. telecom giant to redirect resources toward expanding its domestic fiber broadband and 5G networks.

Under the agreement, Grupo Televisa and Fintech Holdings, an investment firm controlled by billionaire David Martinez, will establish a 50-50 joint venture to manage the acquired wireless business.

The acquisition strengthens Televisa's position in Mexico's telecom industry by combining mobile services with its existing broadband, pay-TV, and fixed-line telephone operations. The expanded portfolio could help Televisa compete more effectively against América Móvil, controlled by billionaire Carlos Slim.

Televisa's U.S.-listed shares climbed 3.2% in after-hours trading following the announcement, reflecting investor optimism about the company's expanded telecommunications capabilities.

AT&T entered Mexico in 2014 through its acquisitions of Iusacell and Nextel Mexico for approximately $4.4 billion. The investments followed regulatory reforms designed to increase competition in a market historically dominated by Slim's Telcel.

Despite investing more than $10 billion in network infrastructure, AT&T struggled to secure substantial market share. The company also faced ongoing disputes involving spectrum access and telecommunications regulations.

The $2 billion divestment represents another step in AT&T's strategy to exit non-core international businesses and prioritize U.S. connectivity infrastructure, including advanced 5G technology and fiber expansion.

AT&T expects to classify its Mexican operations as held for sale in its third-quarter 2026 financial results. The transaction is scheduled to close during the first quarter of 2027, pending regulatory approvals.

For Televisa, the acquisition follows its purchase of AT&T's stake in satellite television provider Sky Mexico last year, further expanding its telecommunications presence.

The deal also comes as Mexico restructures its regulatory framework following the dissolution of independent telecom regulator IFT.

AT&T shares showed limited movement in extended trading, suggesting investors had largely anticipated the sale. Meanwhile, concerns surrounding SpaceX's growing satellite-to-cellular technology continue to influence sentiment toward traditional wireless providers.