According to the OECD Telecommunication and Broadcasting Review of Mexico, there are nine mobile network operators (America Móvil, AT&T Mexico, Axtel, Fish Mexico, Megacable Group, Grupo Televisa, Telecomunicaciones indígenas comunitarias, Telefónica, and Totalplay) and eight mobile virtual network operators (May Tiempo, Maxcom, Qbo Cel, Teligentia, Virgin Mobile Latin America, Weex, Flash Mobile, and Megatel).
Although there are many companies providing telecommunication services, the market is concentrated in three significant firms: 1) America Móvil, which concentrates 64 percent of the mobile phone subscriptions market and 71 percent of the mobile broadband market. This holding is owned by Carlos Slim's Caro Group and is composed by Telmex, Telcel, and Teléfonos del Noroeste or Telnor. 2) Telefónica, which concentrates 23 percent of the mobile phone subscriptions market and 14 percent of the mobile broadband market. Telefónica is a Spanish multinational broadband and telecommunication services provider and owns two companies in Mexico, Grupo de Telecomunicaciones Mexicanas and Movistar. 3) AT&T Mexico concentrates 10 percent of the mobile phone subscriptions market and 12 percent of the mobile broadband market. AT&T is a publicly traded American multinational company that provides broadband and telecommunications services. In Mexico it owns Unefon, Iusacell and Nextel.
It is relevant to mention that two of the three major telecommunication providers in Mexico are foreign companies. This foreign investment is a result of the above mentioned Constitutional and legal reforms that allowed non-Mexican companies to invest in the telecommunication sector—an action that was forbidden during the 20th century.