AT&T backtracks on Vrio IPO - Mobile World Live

AT&T backtracks on Vrio IPO

19 APR 2018

AT&T cancelled a planned IPO for Vrio, the holding company for its pay-TV assets in Latin America, citing “current market conditions” as the reason.

The stock was scheduled to hit the New York Stock Exchange today (19 April).

AT&T’s decision comes after Vrio, in a filing with the Securities and Exchange Commission, slashed the number of shares on offer from 29.7 million to 15 million. The company also cut the price range from between $19 and $22 per share to $16 to $17 per share.

Vrio originally aimed to raise as much as $653 million, but the revised offer would only have yielded around $216 million based on a per share price of $16.50, it noted in the filing. The company was planning to use the funds to repay a portion of its indebtedness to AT&T ahead of the latter’s acquisition of Time Warner.


Diana Goovaerts

Diana is Mobile World Live's US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only...

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