Telecom: Mexico
Mexico’s telecom regulator, the Comisión Reguladora de Telecomunicaciones (CRT), has set a 20% cap on how much spectrum one company may hold per band in an auction of fixed-link frequencies. Expansión, a Mexican business magazine, reported on 13 November 2026 that the cap hits Axtel and AT&T and leaves room for Televisa.
Key Facts
—Auction. The CRT is auctioning fixed-link frequencies in the 10.5 GHz and 38 GHz bands under terms numbered CRT-REF-01-2026.
—Cap. A company above 20% of a band cannot add more of it in this tender, Expansión reports.
—Affected. Axtel, a Mexican telecom firm, holds 41% of 10.5 GHz, AT&T 33.3% of 38 GHz, and Telcel sits near 20%.
—Televisa. Televisa and Fintech Holdings agreed to buy AT&T’s Mexican mobile business for US$2 billion.
What the Cap Does
The CRT’s terms for the fixed-link auction set a 20% limit per band, according to Expansión. A company above that share of a band cannot gain more of it in this tender.
Fixed links are radio connections between two fixed points, used to carry mobile and business traffic. Expansión lists Axtel, a Mexican telecom company, with 41% of the 10.5 GHz band and AT&T, the US carrier with a Mexican network, with 33.3% of 38 GHz.
Telcel, the mobile arm of América Móvil, sits at about the threshold, with 20% of 10.5 GHz and 19.1% of 38 GHz. Those holdings show who the cap affects most.
Who Gains and Who Warns
Expansión says the limit leaves Televisa, the Mexican media and telecom group, room to buy frequencies. Promtel, which monitors the coverage commitments of the shared-network operator Altán Redes, warns that the scheme could let better-funded firms such as Televisa hoard blocks, according to the magazine.
Televisa and Fintech Holdings agreed to buy AT&T’s Mexican mobile business for US$2 billion, with closing expected in the first quarter of 2027 pending approvals, Expansión reported on 13 October 2026. Its 27 October report says the purchase makes Televisa a less likely bidder.
What To Watch Next
Expansión says the auction is due to start by the end of 2026, and we could not confirm the calendar. Our earlier coverage of América Móvil’s profit and the Telcel union dispute gives background on the market leader, and the Mexico news page has more.
What Is Not Known
We have not seen the CRT’s own table of holdings, so the percentages are Expansión’s. Neither Televisa’s bidding plans nor the auction dates are confirmed.
What It Means for You
For investors in AT&T or in América Móvil, Telcel’s parent company, this is a rule that shapes who can add frequencies. This article reports a regulatory process for information and is not investment advice.
Frequently Asked Questions
What is the 20% cap in Mexico’s spectrum auction?
Expansión reports that a company above 20% of a band cannot add more of it in this tender. The limit is set per band.
Which companies does the cap affect?
Expansión says it hits Axtel, with 41% of the 10.5 GHz band, and AT&T, with 33.3% of 38 GHz. It adds that Televisa has room to acquire frequencies.
Sources: Expansión (Mexico), 13 November 2026, on the spectrum cap, tender CRT-REF-01-2026 (fixed links, 10.5 and 38 GHz) and Televisa; Expansión, 13 October 2026, on the Televisa and Fintech Holdings agreement to buy AT&T México; Expansión, 27 October 2026, on the 5G tender.
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