Grupo Televisa and Fintech to acquire AT&T México for $2 billion

Grupo Televisa and Fintech Holdings, an investment vehicle led by David Martínez, have agreed to acquire 100% of AT&T’s Mexican telecommunications business for $2 billion. The deal aims to allow Televisa to expand its presence in the mobile telephony market with its own network.

BBVA has committed to providing up to $1.2 billion in financing for the transaction, which includes a term loan and an additional credit line. The financing is reportedly backed by assets including shares in AT&T México. AT&T is selling its Mexican operations to focus investments on fiber and 5G deployment within the United States.

Legal experts suggest the acquisition is unlikely to trigger significant antitrust concerns from Mexico’s National Antitrust Commission (CNA). Analysts note that Televisa is already an active participant in the telecommunications ecosystem through its mobile virtual operator, Izzi, and does not currently face asymmetric regulation that would suggest anti-competitive behavior.