Televisa, Fintech to Take on America Movil With $2 Billion Purchase of AT&T's Mexican Unit

3-line summary

• Scotiabank analysis cited by Investing.com said the deal's low purchase price and Fintech Holdings' involvement work against America Movil, since the new owners can direct more resources to capital spending; the deal could lift the combined entity's fixed-and-wireless subscriber market share from 8% to 19%.
• América Móvil's Telcel still has roughly twice as many base stations and a stronger 5G network, but the new owners could pursue direct-to-cell partnerships with operators like Starlink to compete. AT&T Mexico's 2025 revenue was 85.4 billion pesos (about $4.65 billion) with 14 billion pesos operating profit and roughly 24.7 million subscribers as of December.
• Fintech Holdings holds a 22.3% stake in Televisa and will own 50% of the acquiring consortium. The deal is expected to close in Q1 2027 pending Mexican regulatory approval; Televisa is re-entering the mobile market after an earlier attempt from 2012-2014, and Telefónica separately sold its own Mexico unit for $450 million in April.

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