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Televisa and Fintech acquisition of AT&T Mexico

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2026-10-16 13:42 UTC → 2026-10-20 08:41 UTC · added ~~removed~~

Grupo Televisa and Fintech Holdings, a private investment firm owned by ~~businessman~~ David Martínez Guzmán, have agreed to a $2 billion cash acquisition of AT&T Mexico’s wireless business. The deal is structured as a 50-50 joint venture and is expected to close in the first quarter of 2027, pending regulatory approval from the Comisión Federal de Competencia Económica (COFECE) and the Instituto Federal de Telecomunicaciones (IFT). AT&T Mexico, which entered the market in 2015, reported revenues of 85.4 billion pesos and an operational margin of 1.6% in 2025. At the end of 2025, the company held approximately 24.7 million mobile subscribers. The sale allows AT&T to refocus capital on its United States market, specifically for fiber optic, domestic 5G, and artificial intelligence infrastructure. New details indicate that BBVA has committed to providing up to $1.2 billion in financing for the transaction, consisting of a term loan and an additional credit line, reportedly backed by assets including shares in AT&T México. The acquisition would transition Mexico’s second-largest mobile operator to Mexican ownership. For Televisa, which already operates Izzi, the move provides an opportunity to offer integrated services. Legal experts suggest the acquisition is unlikely to trigger significant antitrust concerns from Mexico’s National Antitrust Commission (CNA), noting that Televisa does not currently face asymmetric regulation that would suggest anti-competitive behavior. Analysts suggest the combined market share for the new group in fixed and mobile telephony could increase from 8% to 19%.

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