AT&T to raise up to USD 653 mln in IPO of DirecTV LatAm stake

News Video Latin America and the Caribbean 5 APR 2018
AT&T to raise up to USD 653 mln in IPO of DirecTV LatAm stake

AT&T has launched an initial public offering of a stake in Vrio Corp, the holding company for its satellite television service DirecTV Latin America. In a statement, the company said it expects the IPO of 29.7 million class A Vrio shares to raise up to USD 653 million, with the price expected at USD 19 to USD 22 per share. 

The unit includes satellite and cable television services in Brazil (Sky), Colombia, Argentina and other countries. The IPO follows earlier reports that AT&T was reviewing its portfolio to reduce its debt and was considering a possible sale of the Latin American business. AT&T filed confidentially for an IPO of its Vrio business in February. 

AT&T acquired DirecTV for USD 48.5 billion back in 2015. Subscribers in Latin America reached around 13.6 million at the end of 2017, up 1.1 million from a year earlier. 

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Video

Companies:

DirecTV

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Latin America and the Caribbean

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Shareholders & subsidiaries, Broadcast, Satellite, Corporate strategy, Financial funding

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