AT&T announces sale of Sky Brasil controller Vario to Argentine conglomerate Worthin

Imagem Assine o Estadão

a AT&T announced on Wednesday, 21st that it would be moving its service operator Vrio to the . will sell in Latin America who controls Sky Brazil and DirecTV. will be acquired by the provider Worthin Group, an Argentine group. The companies expect the transaction to close in early 2022.

Werthein Group has agreed to acquire 100% equity in Vrio, which has 10.3 million customers in 11 countries in Latin America and carib.

Because of the transaction, AT&T classified Virio as “held for sale” on June 30 and recorded the corresponding group of assets for sale at fair value less cost. This resulted in a loss of $4.6 billion, which includes $2.1 billion related to the cumulative translation of foreign currency adjustments.

In addition to operating through Sky in Brazil and providing services through DirecTV in other countries in the region, Vrio also has Directv Go, streaming.

“Our vision for the future is to maximize these leading entertainment brands in Latin America, maintaining their leadership and enhancing their value proposition, investing in technology and content tailored to the consumption habits of each of our customers, including the next generation of consumers” . Verthin Group shareholder Dario Worthin said in a statement.

According to AT&T’s executive director for Latin America, Lori Lee, the telecommunications company is committed to the region through its wireless business in the region. Mexico, in addition to services for multinational companies operating in LA.

AT&T this Thursday, released its balance sheet for the second quarter of 22. During this period, the revenue of the telecom company America Vrio with services was US$749 million, practically stagnant year-on-year.

See also  3M launches diversity, equity and inclusion report

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *