Will AT&T Sell its Latin American Pay TV Business?
AT&T (NYSE: T) is mulling over the potential sale of its pay TV business in Latin America, according to a Reuters report citing "people familiar with the matter." The unit provides satellite TV services in Brazil, Colombia, Venezuela, Argentina, and several other countries. AT&T doesn't plan to sell its pay TV business in Mexico, which it gained from its acquisition of DirecTV in 2015.
The sale of the Latin America business could fetch over $8 billion, and potential suitors include international telco Liberty Global PLC, Latin American wireless carrier Millicom International Cellular, and Spanish telco Telefonica (NYSE: TEF). Telefonica previously expressed interest in buying the business in early 2016.
Source: AT&T.
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