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AT&T's DirecTV Latin America Business Files US IPO

Law360 (March 7, 2018, 9:01 PM EST) -- AT&T Inc.'s DirecTV Latin America unit Vrio Corp. filed an initial public offering on Wednesday that is preliminarily listed to raise $100 million and could potentially lead to a spinoff from the U.S. telecommunications giant, adding to several notable IPOs filling the pipeline.

Vrio, represented by Sullivan & Cromwell LLP, did not disclose the size of its offering though parent AT&T said the IPO will represent a minority stake in the company. The $100 million figure is often a placeholder used to calculate fees and can...
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