Televisa and Fintech Agree to Buy AT&T Mexico for $2 Billion
Televisa and Fintech buy AT&T Mexico for $2 billion: 24.7 million mobile subscribers and a closing subject to regulators in the first quarter of 2027.
Grupo Televisa and Fintech Holdings have agreed to acquire 100% of AT&T Mexico for 2 billion dollars, with equal contributions from both buyers. The deal would bring 24.7 million mobile subscribers under a single consortium, and its closing, subject to regulatory approvals, is expected in the first quarter of 2027.
Televisa notified the Mexican Stock Exchange of the agreement on Tuesday, October 13. According to Forbes Mexico, AT&T Mexico is the country's second mobile operator and as of December 31, 2025 reported 85.4 billion pesos in consolidated revenue and 1.4 billion pesos in operating profit. El Financiero details that the other buyer is David Martinez Guzman, founder of Fintech Advisory, a New York firm created in 1987 and specialized in debt restructuring in emerging markets. With the purchase, the Mexican market for telephony, internet and value-added services is left with a second, larger-scale player facing America Movil, owned by Carlos Slim.
The agreement was signed with AT&T, Inc. and the 2 billion dollar price is subject to certain adjustments, according to Televisa's statement. The transaction will be financed with available cash and secured debt without recourse to the consortium. The closing requires authorization from the Telecommunications Regulatory Commission and the National Antitrust Commission, according to El Financiero. AT&T Mexico operates under concession titles granted by the Ministry of Infrastructure, Communications and Transport and offers mobile telephony, internet and value-added services. El Financiero notes that Martinez was born in Monterrey in 1957, worked in Citibank's sovereign debt restructuring unit and has served on the boards of companies such as Cemex, Alfa and Vitro.
With the closing expected in the first quarter of 2027, the data point to watch is the resolution of the Telecommunications Regulatory Commission and the National Antitrust Commission: their conditions will determine whether the consortium integrates spectrum, network and customers without divestitures. For mobile virtual network operators, the open question is whether the country's second operator maintains wholesale network access terms.
This article was drafted with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.