Televisa and Fintech Agree to Buy AT&T Mexico Unit for $2 Billion in Telecom Expansion
MEXICO CITY, Mexico, Oct 14, 2026, ZEX PR WIRE — Grupo Televisa and investment firm Fintech Holdings have agreed to acquire AT&T’s Mexican telecommunications business for $2 billion in cash, setting the stage for a stronger challenge to the country’s dominant wireless operator, América Móvil.
The agreement, announced on October 13, 2026, marks a significant development in Mexico’s competitive telecommunications market. The transaction is expected to close in the first quarter of 2027, subject to regulatory approval.
The acquisition will give the buyers a substantially larger position in a market where demand for mobile connectivity, broadband services and digital infrastructure continues to shape competition among telecom operators.
Acquisition Could Reshape Market Competition
AT&T’s Mexican business had approximately 24.7 million subscribers as of December 2025. According to Scotiabank estimates cited by Reuters, the acquisition could increase Televisa’s share of Mexico’s combined fixed and wireless subscriber market from 8% to 19%.
That expansion would give the combined business greater scale as it competes with América Móvil, which operates the Telcel wireless brand and maintains an extensive national network.
The transaction also comes amid wider consolidation in Mexico’s telecommunications sector. Spain’s Telefónica sold its Mexican business in April 2026 as it continued to streamline operations and concentrate on core markets.
For the buyers, acquiring an established operator offers a faster route to scale than building an extensive network and subscriber base from scratch. However, the long term benefits will depend on integration, investment requirements and the ability to retain customers in a highly competitive market.
Why AT&T Is Selling
For AT&T, the sale allows the company to redirect resources toward its US fibre and 5G operations. The company has been investing in connectivity infrastructure as demand for high capacity networks grows alongside cloud computing, enterprise digitisation and AI related workloads.
AT&T’s Mexican unit generated approximately 85.4 billion pesos in revenue during 2025, equivalent to about $4.65 billion, according to figures disclosed by Televisa. The business also reported operating income of 1.4 billion pesos.
The $2 billion transaction price therefore represents a major strategic change for AT&T in Mexico, while giving the acquiring group access to an established operation with substantial subscriber reach.
Financing and Regulatory Approval Remain Key
Fintech Holdings, owned by investor David Martínez, holds a 22.3% stake in Televisa and will take a 50% interest in the acquisition consortium. The deal is expected to be funded through available cash and secured, non recourse debt financing.
The buyers may also explore partnerships to strengthen their competitive position. Analysts cited by Reuters suggested that direct to cell satellite connectivity could become one potential avenue, although no such arrangement was confirmed as part of the transaction.
Investors will be watching regulatory approval, financing conditions and the buyers’ plans for future capital expenditure. Telecom networks require sustained investment in coverage, capacity and service quality, meaning a larger subscriber base alone does not guarantee stronger profitability.
The transaction’s ultimate significance will depend on whether Televisa and Fintech can turn the acquisition into a more competitive and financially sustainable telecommunications business while challenging established operators in one of Latin America’s largest markets.
