Telefónica originally held exclusive negotiations with Beyond ONE, yet those talks failed to conclude. On 07 April 2026, Telefónica officially announced the sale of the full equity stake of Mexican Movistar to the Melisa Acquisition consortium led by OXIO, at an enterprise value of USD 450 million. The transaction is still subject to review by Mexico’s CRT regulator. Existing rules for wholesale A2P SMS services will remain unchanged until closing.
During exclusive talks in H2 2025, the market widely expected Beyond ONE, parent company of Virgin Mobile, to be the acquirer. However no formal agreement was signed. After the exclusive‑period ended, Telefónica continued to source alternative investors. On 07 April 2026, Telefónica announced the disposal of 100 % stakes in its Mexican subsidiaries Pegaso PCS and Celular de Telefonía to the Melisa Acquisition joint vehicle formed by OXIO and Newfoundland Capital Management fund. The enterprise value stands at USD 450 million, with final consideration subject to customary adjustments for net debt and working‑capital. The transaction was disclosed to Spain’s securities regulator CNMV, but Mexican domestic regulatory approvals and formal closing are yet to be completed.
Movistar Mexico runs an asset‑light operation: it no longer owns spectrum or substantial base‑station infrastructure and rides on AT&T’s mobile network. Key assets being transferred include over 20 million subscribers, enterprise accounts and the B2B wholesale interconnection ecosystem covering wholesale A2P SMS customer portfolios. The buyer stated that the Movistar brand and existing management team will be retained throughout transition with no service disruption. Upon regulatory clearance and closing, the new shareholders hold the right to renegotiate wholesale interconnection terms, A2P SMS tariffs, risk‑control policies and Sender‑ID arrangements. Aggregators shall stay alert against possible commercial‑term revisions.
No detailed staff‑transfer or subscriber‑migration roadmaps have been published. The previously‑rumoured migration onto Virgin Mobile will not proceed. Future brand positioning for end‑users will be decided by OXIO. As of 31 August 2026, the transaction remains under CRT regulatory assessment in Mexico with no published approval timeline. All interconnection agreements, A2P policies and settlement rates stay in force prior to closing.
