AT&T mulls public share offering of LatAm TV assets - Mobile World Live

AT&T mulls public share offering of LatAm TV assets

13 OCT 2017

AT&T was tipped to be considering a public share offering of its Latin American (LatAm) pay-TV assets, possibly to reduce debt arising from a pending $85.4 billion acquisiton of Time Warner, Bloomberg reported.

Depending on which assets are included, the LatAm businesses could be valued at between $8 billion and $10 billion.

AT&T’s total debt will increase to least $180 billion once the Time Warner deal is completed, which is set to happen by the end of the year.

In September it was reported AT&T is investigating the potential sale of its pay-TV units in LatAm, appointing a financial advisor to oversee the process.

As part of AT&T’s acquisition of DirecTV for $48.5 billion in 2015, the operator inherited Latin American businesses including satellite-TV services in the Caribbean and South America, along with stakes in Sky Brasil and Sky Mexico. According to Bloomberg, the operator was always ambivalent about these assets.

AT&T mulled using the pay-TV businesses to expand Time Warner’s programming, but the report said the governments and economies of countries like Venezuela and Brazil have presented challenges.

What’s more, Bloomberg added AT&T’s focus right now is to integrate Time Warner, develop 5G and expand mobile service in Mexico.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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