Grupo Televisa and Fintech to Acquire AT&T Mexico for US$2 Billion

Grupo Televisa (TV) and Fintech Holdings plan to acquire AT&T's Mexican wireless operations for $2B, pending approvals. The deal, expected to close in Q1 2027, will expand Televisa's telecom services. TV shares rose 7% on the news. The company's P/S ratio is 0.33, below historical and industry averages, reflecting weak growth expectations. Insiders have sold $1M in shares over the past year.

Grupo Televisa (TV) and Fintech Holdings consortium agreed to buy AT&T's (T) Mexico wireless business for $2B, subject to adjustments. The deal is expected to be financed through a mix of debt and equity.

Milbank advised on the $2 billion sale of AT&T Mexico to a consortium including Grupo Televisa and Fintech Holdings. Other deals involved Scanntech, dr.consulta, Volaris Group, Valid S.A., Hermes Transportes Blindados, and Emobility and VGMobility merger.

Televisa's shares rose 5% after announcing a $2B deal to buy AT&T's Mexican unit, expanding its telecom market share to 19%. Analysts see potential benefits but also integration challenges. The deal is expected to close in Q1 2027 and may intensify competition with America Movil.

AT&T agreed to sell its Mexican operations to Grupo Televisa and Fintech Holdings for $2 billion. The deal, expected to close in Q1 2027, will allow AT&T to focus on U.S. operations. Televisa and Fintech will each hold a 50% stake, combining assets to offer bundled services. AT&T entered Mexico in 2015 but struggled to compete with Telcel.

AT&T has agreed to sell its Mexican wireless business, AT&T Mexico, to a consortium of Grupo Televisa and Fintech Holdings for $2bn in cash. The sale, expected to close in Q1 2027, will allow AT&T to focus on US fibre and 5G networks. AT&T Mexico had 24.7 million subscribers, $4.64bn in revenue, and $14m in operating income in 2025, according to the company.