Control of the radio network that carries most of the lines held by Mexico’s mobile challengers is set to change hands, pending the CNA’s ruling. If the CNA clears the sale of AT&T México, Grupo Televisa and Fintech Holdings will own that network 50/50. It carries 30% of the country’s mobile lines, including Movistar México’s.

Two dates sit close together. The parties expect the sale to close in the first quarter of 2027, and Movistar México’s access agreement renews from November 2027. Movistar’s buyer, OXIO, already holds wholesale ties to all three networks and plans to keep the AT&T agreement while adding coverage through Altán and Telcel.

The tension is in who sells against whom. AT&T México already sells mobile service at retail against the guests it hosts. What the sale changes is ownership: Televisa, which owns the guest izzi Móvil, becomes co-owner of the host, while the other two guests, Movistar México and Megacable’s Mega Móvil, sell at retail against Televisa’s own offers. The guests’ access terms are negotiated, outside the standing non-discrimination duties the 2025 law places on wholesale shared networks and the preponderant agent, though the CRT may review sharing agreements and set non-discriminatory conditions.

For an operator, an investor or a competition lawyer, my reading is that the host’s terms belong beside the line counts. The report finds that revenue is more concentrated than lines: Telcel’s share of mobile revenue is larger than its share of lines, and Movistar México earns a revenue share well below its line share. Line-share tables overstate the challengers. The market itself generated $19.7 billion in 2025, and the report’s base case grows it through 2030, set between conservative and optimistic scenarios.

The report also weighs two cases against its own thesis: OXIO’s existing ties to the other two networks, and the incumbent’s margin. Separately, it finds that revenue kept growing through the mandatory line registry: the mobile base fell, yet second-quarter 2026 mobile revenue still grew.

Mexico Mobile Telecommunications Market maps which brands ride whose radio network, sets each operator’s revenue share against its line share and sizes the market under three scenarios. The full analysis is on the report’s page.