Catenaa, Thursday, December 18, 2025- AT&T is close to a multi-billion-dollar agreement to sell its Mexico operations, according to Mexican media reports, as the US telecoms group advances plans to exit a market where it has struggled to gain traction.
El Heraldo de México reported that negotiations are in their final stages and are being handled by Deutsche Bank, though the outlet cited no sources and disclosed few deal details.
The report adds weight to months of speculation that AT&T is seeking to divest the business after years of weak financial performance.
In August, Bloomberg reported that AT&T was reviewing strategic options for its Mexican unit and working with advisers on a possible sale.
At the time, market attention focused on Grupo Televisa as a likely buyer, given its existing telecoms footprint and its earlier acquisition of AT&T’s stake in Sky Mexico.
The latest report says Televisa remains the leading contender but is not alone. It names US-based investment firm Cerberus Capital Management as another potential bidder in the process.
Valuation estimates remain uncertain.
El Heraldo placed AT&T Mexico’s worth between $3 billion and $4 billion, while earlier reporting suggested AT&T was seeking more than $2 billion.
AT&T has not publicly commented on the reports, and Televisa has declined to discuss ongoing negotiations.
Investors reacted positively to the news. Televisa shares rose sharply following the report, briefly topping $3 in New York trading for the first time in several weeks.
AT&T entered Mexico through the acquisitions of Iusacell and Nextel nearly a decade ago, aiming to challenge the dominance of América Móvil.
The effort has yet to deliver sustained cash flow, and analysts widely expect any sale proceeds to be redirected toward AT&T’s fiber expansion in the United States.
