The telecommunications company AT&T Latin America announced that the sale of its Vrio operations, which include the DirecTV brand, has already been agreed with the Werthein Group and that both parties expect the transaction to be completed during Q4 2021. The news was released through a report with the results of Q3 2021.
In the same document, the company reported that during the period, Vrio’s revenues remained stable compared to the previous year, reaching a total of USD 756 million. However, it registered a considerable net loss in number of subscribers, following a decline of 178,000, which according to the report was “mainly driven by secular declines and economic pressures in Brazil and lower sales in other parts of the region“.
On the other hand, regarding AT&T Mexico, the company announced a 12.6% increase in total revenues compared to the same period of the previous year, mainly caused by the 20.3% growth in service revenues, which reached USD 463 million. According to AT&T, these were “driven by the favorable exchange rate impact, the growing subscriber base and growth in other services”.