AT&T Announces Launch Of Vrio's IPO - Quick Facts

(RTTNews) - AT&T Inc. (T) announced the launch of Vrio Corp.'s initial public offering of 29,684,000 shares of its Class A common stock, all offered by Vrio in a primary offering. The initial public offering price is expected to be between $19.00 and $22.00 per share. Vrio has applied to have its shares of Class A common stock approved for listing on The NYSE under the ticker symbol, VRIO.

Vrio is a holding company for AT&T's Latin American digital entertainment services units, DIRECTV Latin America and SKY Brasil. Vrio intends to use the net proceeds of the offering to repay related-party indebtedness owed to AT&T and to distribute the remaining proceeds to AT&T.