AT&T to Exit Mexico with $2 Billion Sale to Grupo Televisa and Fintech Holdings

Image: Illustrative image · Unknown · Public domain · Source

AT&T has agreed to sell its Mexican business to Grupo Televisa and Fintech Holdings for $2 billion, ending its decade-long effort to expand in Mexico. The deal, expected to close in early 2027, aligns with AT&T's focus on U.S. fiber and wireless network investments.

AT&T has finalized a $2 billion agreement to sell its operations in Mexico to a partnership formed by Grupo Televisa and Fintech Holdings. This decision concludes AT&T’s near ten-year attempt to establish a strong presence in Mexico’s telecommunications market, which has long been dominated by America Movil, controlled by billionaire Carlos Slim.

The U.S. telecommunications giant entered the Mexican market in 2015 after significant regulatory changes. It acquired local operators Iusacell and Nextel for a combined $4.4 billion, merging them under the AT&T Mexico brand to build its customer base. Despite efforts, AT&T Mexico held roughly a 16% market share by the end of 2025, serving approximately 24.7 million wireless subscribers, compared to America Movil's market-leading 58% share via its Telcel brand.

AT&T’s CEO and chairman, John Stankey, stated that the company had a strategic vision emphasizing the future importance of converged networks and extensive fiber infrastructure driven by AI technologies. However, the firm chose to refocus its capital and growth strategies on the more vibrant U.S. market, particularly its fiber and wireless network expansions.

Under the terms of the deal, both Grupo Televisa and Fintech Holdings will acquire equal stakes in AT&T Mexico. Grupo Televisa will notably become the first provider in Mexico to offer a full suite of mobile, internet, pay-TV, and fixed-line services, strengthening its market position.

The sale is subject to regulatory approval and is anticipated to finalize in the first quarter of 2027. The transaction follows a similar exit from Mexico by Telefónica earlier in 2026, which sold its operations to a group of investors for approximately $450 million.

This move marks a significant strategic shift for AT&T and highlights the challenges foreign operators face in Mexico's competitive telecommunications landscape.