AT&T Inc. (NYSE:T) has reached an agreement to sell AT&T Mexico to Grupo Televisa and Fintech Holdings for $2 billion in cash at closing, subject to certain adjustments, plus additional contractual and contingent benefits.
AT&T has made meaningful progress advancing its investment-led strategy in the US, where customers increasingly choose AT&T for fast, reliable Internet and wireless service. By continuing to prioritize its US fiber and wireless networks, AT&T is engineering the foundation for advanced connectivity that consumers, businesses, and communities need for an AI-enabled future.
"We have articulated a strong belief that the AI future will run on converged networks with dense fiber assets," said John Stankey, AT&T Chairman and CEO. "This move positions AT&T Mexico to participate in that evolution and is consistent with our long-term strategy to focus our capital allocation on opportunities for growth in the vibrant U.S. market."
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Since entering Mexico, AT&T's operating expertise has enabled the business to grow into one of the country's leading wireless providers. AT&T believes that Grupo Televisa and Fintech Holdings are well positioned to lead AT&T Mexico through its next phase of growth. Grupo Televisa has a strong operating presence in Mexico with its fixed-line broadband business, and Fintech Holdings brings fresh capital, local knowledge, and operational expertise in the Mexican wireless sector.
Read the full press release here.