Telefonica is eyeing AT&T’s pay-TV assets in Latin America, according to unnamed sources cited by Reuters. AT&T bought the assets – valued at around USD 10 billion – as part of the deal to acquire DirectTV’s units in Brazil, Colombia, Venezuela, Argentina and other countries. However, one of the sources added that companies such as Liberty Global are also interested in AT&T's assets in specific countries. AT&T has around 19 million pay-TV subscribers in Central and South America, but profits have been affected by currency depreciation in countries such as Brazil, Colombia and Venezuela.
The acquisition of DirecTV was first announced in May 2014 for USD 48.5 billion but the deal wasn’t completed until July last year, following approval from the FCC. AT&T also owns about 93 percent of Sky Brasil and is a shareholder in Sky Mexico, controlled by Grupo Televisa. Telefonica Brasil CEO Amos Genish last year said the operator remains the only viable buyer of Sky Brasil should AT&T decide to sell.
