AT&T files for IPO of minority stake in DirecTV Latin America

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US telecommunications company AT&T announced the filing of a registration statement with the U.S. Securities and Exchange Commission (SEC) for a potential initial public offering (IPO) of a minority interest in Vrio Corp., a holding company for its Latin American digital entertainment services unit, DirecTV Latin America.
In a statement, the company said it would list its Class A common stock on the New York Stock Exchange under the symbol “VRIO”. Last February, the company reported that it was exploring an IPO in the first half of this year and that confidentially filed a registration statement with U.S. regulators.
In the document filed with the SEC, Vrio said it provides digital entertainment services to customers on a postpaid and prepaid basis across three segments: South Region (Argentina, Chile, Peru and Uruguay), North Region (Barbados, Colombia, Curaçao, Ecuador, Trinidad & Tobago and Venezuela, and Brazil (under the Sky brand). The company reported 13.6 million subscribers in Latin America at the end of Q417, a figure higher than that the one reported to the regulators in each country. In Q417, the company’s revenues were USD 5,570 million.