AT&T Inc. (NYSE: 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, according to a company statement.

The transaction is expected to close in the first quarter of 2027, pending customary closing conditions, including regulatory approvals in Mexico.

AT&T said it expects to report AT&T Mexico as held-for-sale in continuing operations until the deal closes, a change that will be reflected in the company's third-quarter 2026 10-Q filing with the SEC.

AT&T Chairman and CEO John Stankey said the move is consistent with the company's strategy to concentrate capital on U.S. operations. "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," Stankey said.

Grupo Televisa operates a fixed-line broadband business in Mexico, while Fintech Holdings brings capital and experience in the Mexican wireless sector, AT&T said. The company added that U.S. consumer and enterprise customers are not expected to see changes to their service as a result of the transaction.