A U.S.-led investor consortium, spearheaded by OXIO and Newfoundland Capital Management, has agreed to acquire Movistar Mexico from Telefónica S.A., positioning the business for a new phase of digital transformation and growth. The transaction, which remains subject to customary closing conditions and regulatory approvals, will see Movistar Mexico continue operating under its existing brand and leadership team.
The deal centers on leveraging OXIO’s Telecom-as-a-Service platform to transition Movistar Mexico into a cloud-native, digitally driven telecom operator. The platform integrates core network capabilities with AI-enabled data and business intelligence tools, enabling greater operational flexibility and new monetization opportunities.
Movistar Mexico, which serves more than 20 million mobile subscribers, has been steadily evolving toward an asset-light model while strengthening its position in the country’s wireless market. The company has also demonstrated consistent growth in its postpaid subscriber base, signaling improved customer quality and long-term revenue stability.
Mexico’s telecom sector presents a significant opportunity for modernization, driven by rising demand for mobile-first services across fintech, commerce, and entertainment. The country’s nearly 2,000-mile border with the United States further enhances its strategic importance in North American digital infrastructure.
OXIO, founded in 2018 and headquartered in New York, operates a global Telecom-as-a-Service platform with licenses in both the United States and Mexico. The company has established partnerships with major brands, including Grupo Coppel, Rappi, and Mercado Pago, and was recently ranked the top provider in Juniper Research’s 2026 MVNO Solutions Report.
Newfoundland Capital Management, a Pan–Latin American investment firm founded in 2009, specializes in high-conviction investment opportunities across the region and has identified Mexico’s wireless market as a key area for growth.
The acquisition is expected to accelerate Movistar Mexico’s transition into a next-generation telecom operator while maintaining uninterrupted service for its customers.
KEY QUOTES:
“This is an exciting new chapter for Movistar Mexico, and a defining moment for OXIO. Movistar has built a strong brand with a loyal subscriber base of more than 20 million customers, and we are committed to building on that foundation. Our cloud-native platform will support the company’s transformation into a next-generation telco, while meaningfully improving the experience for subscribers across the country.”
Nicolas Girard, Founder And Chief Executive Officer Of OXIO
“Latin America has been at the core of our investment thesis since our founding, and Mexico’s wireless market is among the most compelling opportunities in the region today.”
Daniel Simon, Portfolio Manager At Newfoundland Capital Management
