AT&T Inc. (NYSE: T) announced Tuesday that it will sell its Mexico wireless business to Grupo Televisa and Fintech Holdings for $2 billion in cash, as the telecom giant sharpens its focus on expanding fiber and 5G networks in the United States.
The deal includes potential additional contractual and contingent benefits. The cash payment is also subject to adjustments at closing.
The transaction will allow AT&T to concentrate its capital spending on the U.S. market, where demand for high-speed connectivity continues to grow.
AT&T Doubles Down on US Fiber and 5G
AT&T said the sale aligns with its long-term strategy of investing in advanced connectivity and integrating fiber broadband with wireless services.
Chairman and CEO John Stankey emphasized that artificial intelligence will drive demand for networks supported by extensive fiber infrastructure.
He said the transaction supports AT&T's strategy of directing capital toward growth opportunities in the U.S. while positioning its Mexico business for further expansion under local ownership.
Meanwhile, AT&T has built its Mexico operations into one of the country's leading wireless providers.
The company believes Grupo Televisa and Fintech Holdings can support the business's next phase of growth.
Grupo Televisa brings an established fixed-line broadband business in Mexico. Fintech Holdings contributes capital, local market knowledge and experience in the country's wireless industry.
Deal Expected to Close in Early 2027
AT&T expects to complete the transaction in the first quarter of 2027, subject to customary closing conditions and regulatory approvals in Mexico.
Until then, the company expects to classify AT&T Mexico as held for sale within continuing operations. The change will appear in its third-quarter 2026 filing with the Securities and Exchange Commission.
AT&T also said it does not expect the sale to affect services for its U.S. consumer and enterprise customers.
T Price Action: AT&T shares were up 0.60% at $22.98 during premarket trading on Wednesday, according to market data.
