AT&T is exiting Mexico’s wireless market, agreeing to sell its Mexican mobile telecommunications business to Grupo Televisa and Fintech Holdings in a $2 billion cash deal that will allow the U.S. telecom giant to redirect investment toward its domestic fiber and 5G networks.

Announced Oct. 13, the transaction is expected to close in the first quarter of 2027, pending customary closing conditions and any required regulatory approvals in Mexico. The purchase price is subject to customary adjustments, with additional contractual and contingent benefits also included in the agreement.

For AT&T, the sale marks the end of an expansion into Mexico that began in 2015 with its acquisitions of Iusacell and Nextel Mexico. The company has since invested in building what it describes as Mexico’s second scaled wireless network, but is now prioritizing its U.S. operations as demand grows for high-speed connectivity and infrastructure capable of supporting artificial intelligence applications.

“We have articulated a strong belief that the AI future will run on converged networks with dense fiber assets,” AT&T Chairman and CEO John Stankey said in announcing the deal. He added that the divestiture aligns with the company’s long-term strategy of directing capital toward growth opportunities in the U.S. market.

The sale represents a significant expansion for Grupo Televisa, one of Mexico’s largest media and telecommunications companies, and its investment partner, Fintech Holdings. The consortium will be owned equally by the two parties, with each holding a 50% economic interest in the acquisition.

Televisa brings an established fixed-line broadband business and a substantial presence in Mexican television and media, while Fintech contributes capital, local market knowledge and operational experience. Together, the partners will take control of a wireless operation that could strengthen their position in Mexico’s increasingly competitive telecommunications market.

The acquisition also creates a potentially more formidable challenger to América Móvil, the telecommunications group controlled by billionaire Carlos Slim and the parent company of Telcel, Mexico’s dominant wireless carrier. According to Reuters, the deal could increase Televisa’s share of fixed-line and wireless subscribers from approximately 8% to 19%, giving the company a considerably larger footprint across the country’s connectivity market.

AT&T Mexico had approximately 23.4 million mobile subscribers as of June 2026, according to industry reporting. While the business has faced pressure in prepaid and reseller accounts, it has expanded its postpaid customer base, a segment generally associated with more predictable recurring revenue and higher-value customers. The broader challenge for the new owners will be translating that customer base and existing network infrastructure into sustainable profitability while competing against established operators.

For Televisa, the deal is notable because it deepens the company’s position beyond its traditional media and pay-TV businesses. Its existing broadband infrastructure could provide opportunities to bundle wireless, internet and other services, potentially increasing customer retention and creating additional revenue streams. The transaction also gives the company a more substantial role in a market where connectivity is increasingly central to the distribution and consumption of entertainment.

The acquisition comes as media companies and telecommunications operators continue to reassess the value of owning distribution infrastructure. While the economics of traditional pay television have faced pressure from streaming, broadband and wireless services remain strategically important as audiences consume more video across connected TVs, smartphones and other devices.

The transaction is not expected to affect AT&T’s U.S. consumer or enterprise customers, including those traveling to Mexico, according to the company. Until the sale closes, AT&T will classify the Mexican business as held for sale in its continuing-operations reporting, including its third-quarter 2026 securities filing.

Regulatory approval and the successful integration of the wireless business remain key milestones before the deal can be completed. For AT&T, the transaction sharpens its focus on domestic network investment. For Televisa and Fintech, it represents a substantial bet that a stronger combination of wireless and fixed-line services can deliver growth in Mexico’s telecommunications market.