AT&T introduced that Grupo Werthein will purchase AT&T’s Vrio enterprise unit, a digital leisure companies firm with 10.3 million subscribers throughout 11 nations in Latin America and the Caribbean.
Vrio gives reside and on-demand video companies through DIRECTV Latin America, SKY Brasil and DIRECTV GO.
Vrio’s infrastructure contains satellites and broadcast facilities that carry 4K video codecs. Vrio’s broadband operations, together with different investments, together with Torneos y Competencias in Argentina and WIN Sports activities in Colombia, will switch to Grupo Werthein at shut.
“This transaction will additional permit us to sharpen our deal with investing in connectivity for patrons,” mentioned Lori Lee – CEO AT&T Latin America. “We stay dedicated to Latin America by way of our wi-fi enterprise in Mexico and companies for multinational companies working within the area.”
AT&T and Grupo Werthein can have transition companies agreements in place beneath which AT&T will present sure companies, comparable to billing, infrastructure and software program help, to Grupo Werthein for one to 3 years after the transaction closes.
AT&T categorized Vrio as held-for-sale at June 30, 2021 and reported the asset group at honest worth much less value to promote, which resulted in an impairment of $4.6 billion together with $2.1 billion associated to accrued overseas forex translation changes. AT&T plans to announce second-quarter 2021 outcomes on Thursday, July 22, 2021.