Televisa’s AT&T Mexico deal boosts its challenge to America Movil
TV•Televisa agreed to buy AT&T’s Mexican unit for $2 billion in cash, alongside privately held Fintech Holdings. Scotiabank estimates the combined company could hold 19% of Mexico’s fixed and wireless subscribers, up from Televisa’s 8%; the deal is expected to close in the first quarter of 2027.
1. Deal expands Televisa’s reach
Televisa shares rose around 6% after the broadcaster said it would buy AT&T’s Mexican unit in a $2 billion cash deal alongside Fintech Holdings. Scotiabank analysts estimate the combined company’s share of Mexico’s fixed and wireless subscribers could more than double to 19% from 8%.
2. Execution risks remain
Analysts said the deal could strengthen Televisa’s competition with America Movil, but integration and competition in Mexico’s telecom sector could limit its benefits. Santander analysts said value depends on improving AT&T Mexico’s historically low-margin operations and building a combined fixed-mobile offering. UBS said the business needs network modernization and investment, particularly in 5G. The transaction is expected to close in the first quarter of 2027.
