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AT&T Sells Latin American Satellite Business to Argentina’s Grupo Werthein – The Wall Street Journal

July 21, 2021 by Business

AT&T Inc. said it agreed to offer its Vrio satellite company in Latin America to Argentina’s Grupo Werthein, proceeding the Dallas telecom giant’s relocation far from the television business.

The sale covers 10.3 million clients throughout 11 nations in the Western Hemisphere, consisting of Argentina, Chile and Colombia, acquired from AT&T’s purchase of DirecTV. The cordless carrier said the sale will certainly activate a $4.6 billion accounting cost, which includes $2.1 billion connected to “built up international currency translation adjustments.”

AT&T is slated to report quarterly earnings on Thursday.

An AT&T representative said the purchase brings a business worth of $500 million, which will be paid over the following couple of years. The business anticipate to seal the deal in very early 2022.

Vrio has actually dealt with challenges unique to its residence turf, consisting of foreign-exchange rate swings as well as economic slumps in crucial markets including Brazil, where the device holds a regulating risk in satellite-TV service Sky Brasil. The firm previously documented its operations in Venezuela, where diplomatic tensions with the U.S. threatened the business.

Filed Under: Business Tagged With: RSS Feeds

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