AT&T: to sell Vrio to Grupo Werthein

(CercleFinance.com) - AT&T has reached an agreement with Grupo Werthein, a holding company that has a strong presence in Latin America, to sell its Vrio Corp business unit to AT&T, in a transaction that is expected to close in early 2022.


Grupo Werthein will acquire, subject to customary closing conditions, 100% of the equity of Vrio, a leading digital entertainment services company with 10.3 million subscribers in 11 countries in Latin America and the Caribbean.

Ahead of this transaction, AT&T classified Vrio as held-for-sale at 30 June 2021 and reported its assets at fair value less cost to sell, resulting in an impairment charge of 4.6 billion dollars.


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