AT&T agrees $2 billion cash sale of AT&T Mexico

TL;DR: AT&T has agreed 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 Inc. has agreed 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 said the transaction aligns with its strategy to focus capital allocation on its US business, including 5G, wireless, and fiber networks and services.

John Stankey, AT&T chairman and CEO, said the company believes AI services will run on converged networks with dense fiber assets and said the sale is consistent with AT&T's long-term focus on growth opportunities in the US market.

AT&T said Grupo Televisa and Fintech Holdings are positioned to lead AT&T Mexico's next phase. The company said Grupo Televisa has a fixed-line broadband presence in Mexico and Fintech Holdings brings capital, local knowledge, and wireless sector operating experience in Mexico.