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AT&T Can’t Find a Buyer for DirecTV Latin America Business

By  |  September 9, 2020

AT&T Inc. has struggled to interest potential buyers in Vrio Corp., its declining Latin American satellite-TV division, after actively peddling it for at least four months, according to people familiar with the situation.

The problem with Vrio adds to the big challenges AT&T faces in its effort to raise cash and pay down debt by selling noncore businesses in a difficult market. The people asked not to be identified discussing private information. AT&T declined to comment.

Vrio is part of a growing list of assets under review or with bids being solicited for sale. New Chief Executive Officer John Stankey is looking to streamline AT&T by jettisoning nonessential businesses that the company added during its go-big-or-go-home era of mega-acquisitions.

Full Content: Bloomberg

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