AT&T to sell AT&T Mexico for $2 billion

AT&T has reached an agreement to sell its Mexican wireless business, AT&T Mexico, to Grupo Televisa (TV) and Fintech Holdings for $2 billion in cash at closing. The price is subject to certain adjustments and is supplemented by additional contractual and contingent benefits, making the overall consideration potentially higher than the headline cash amount.

The transaction marks a significant change in AT&T’s international footprint, shifting ownership of Mexico’s second scaled wireless network to a consortium of local and regionally focused investors. AT&T said its efforts to consolidate and modernize the network have positioned AT&T Mexico for its next phase of growth under new ownership.

The sale is expected to close in the first quarter of 2027, subject to customary closing conditions. These include any necessary regulatory approvals in Mexico, which must be obtained before the transaction can be completed.

Until the deal closes, AT&T expects to report AT&T Mexico as held-for-sale in continuing operations. This classification will be reflected in the company’s third-quarter 2026 Form 10-Q filing with the U.S. Securities and Exchange Commission, signaling the planned divestiture to investors and regulators.

AT&T describes the divestiture as consistent with its long-term strategy to concentrate capital on its core U.S. business. The company said the transaction sharpens its focus on building what it characterizes as the strongest network in the United States through continued investments in fiber and 5G.

Chairman and CEO John Stankey linked this strategy to expectations for future technology demands, stating a belief that the AI future will run on converged networks with dense fiber assets. By reallocating capital from AT&T Mexico, the company aims to support that network evolution within its U.S. operations.

AT&T indicated that future growth opportunities for AT&T Mexico are best pursued under local leadership. Grupo Televisa (TV) is described as having a strong operating presence in Mexico through its fixed-line broadband business, providing an established infrastructure and customer base in the country.

Fintech Holdings is cited as bringing fresh capital, local knowledge, and operational expertise in the Mexican wireless sector to the consortium. Together, Grupo Televisa (TV) and Fintech are positioned to lead AT&T Mexico into its next development phase once the transaction closes, while AT&T redirects its resources toward its U.S. connectivity strategy.