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Exclusive: AT&T weighs divestiture of Latin American TV assets - sources

Exclusive: AT&T weighs divestiture of Latin American TV assets - sources
From Reuters - September 15, 2017

(Reuters) - AT&T (T.N) is evaluating a sale of its pay TV operations in Latin America as it seeks to pay down debt following its planned $85.4 billion acquisition of Time Warner Inc (TWX.N), people familiar with the matter said on Friday.

AT&T is working with a financial adviser to field interest in the assets, which could be valued at more than $8 billion, the people added, asking not to be named because the matter is private.

Liberty Global PLC (LBTYA.O), Spanish telecommunications company Telefonica SA and Millicom International Cellular SA (MICsdb.ST), a wireless player in Latin America, are some of the companies that could express interest in all or parts of AT&Ts Latin American markets, according to the people.

AT&T declined to comment. Liberty Global, Telefonica and Millicom could not be reached for comment.

Most Latin American countries, with the exception of Venezuela, have stabilized over the past year with markets such as Brazils rallying after struggling with a recession for several years following the end of a decades-long commodities boom.

There is no guarantee that AT&T will be successful in selling the business, which includes satellite and cable television services in Brazil, Colombia, Venezuela, Argentina and several other countries, the people said. It could still decide to keep the systems, the people added.

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