AT&T files for IPO of minority DirecTV LatAm stake

Wednesday 7 March 2018 | 13:37 CET | News

AT&T has confirmed the filing of a registration statement with the US Securities and Exchange Commission for a potential initial public offering of a minority stake in Vrio Corp., the holding company for its satellite television service DirecTV Latin America. The filing confirms earlier reports that AT&T was reviewing its portfolio to reduce its debt, with the company last month announcing that it was exploring an IPO of its Vrio stake. Goldman Sachs, JP Morgan Securities, Citigroup Global Markets and Morgan Stanley have been appointed the joint book-running managers for the IPO.

AT&T acquired DirecTV for USD 48.5 billion back in 2015, with subscribers growing to around 13.6 million at the end of 2017, up 1.1 million from a year earlier. Telefonica and Liberty Latin America have been reported as potential merger partners should the transaction complete later this year.

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