AT&T has completed the previously announced sale of its Latin American pay-TV business unit, Vrio Corp, to Buenos Aires-based Grupo Werthein. The deal – which was first announced in July this year – does not include AT&T’s 41.3% interest in Sky Mexico. Further, Vrio’s broadband operations in Colombia are not included in the transaction, as these were sold to Telefonica in May this year.
Vrio provides digital entertainment services across eleven countries in Latin America and the Caribbean. The company offers pay-TV/TD-LTE services in Brazil through the Sky Brasil brand and DirecTV-branded services in markets such as Argentina, Barbados, Chile, Colombia, Curacao, Ecuador, Peru, Trinidad and Tobago and Uruguay.
While the value of the deal has not been disclosed, a source previously told the Wall Street Journal that the final price paid is in the region of USD500 million.