Televisa expects AT&T purchase to strengthen position, debt will increase

MEXICO CITY, Oct 30 (Reuters) - Mexico's Grupo Televisa TLEVISACPO.MX said on Friday that the purchase of AT&T Mexican unit will materially strengthen its competitive position while the net debt will rise.

The $2 billion deal, pursued as a 50/50 joint venture with Fintech Holdings, is expected to close in the first quarter of 2027 pending regulatory approvals, creating a venture with about 24 million wireless subscribers.

• Combined assets would also include 5.7 million broadband and 6.3 million video subscribers, Grupo Televisa co-CEO Alfonso de Angoitia said at an earnings call with analysts.

• Televisa's net debt to EBITDA is expected to rise to 1.9 times after the deal, from 1.6 times at the end of the third quarter, he added.

• Each partner will contribute $400 million in equity, with the remaining $1.2 billion funded through a five-year non-recourse loan.

• Combined annual revenue would reach around $8 billion, roughly 23% of Mexico's telecom market.

• The acquisition, "positioned us very well to consolidate our undisputable position as the second largest telco operator in our country," the executive said.

• On Thursday, the world's largest producer of Spanish-language posted a return to profit in the third quarter, as softer revenue were offset by lower financial and tax expenses.

• The acquisition of AT&T Mexico, which ended 2025 with revenue of 85.4 billion pesos and operating income of 1.4 billion pesos, marks Televisa's second attempt to enter the competitive telecom sector, after an unsuccessful effort between 2012 and 2014.