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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
