DIRECTV Latin America, a subsidiary of DIRECTV (NYSE: DTV) is further expanding its operations and ambitions into Latin America. Today’s news is the closure news rather than onset of news. Still, this just shows much greater ambition of the satellite TV operator into such a high growth market like Latin America. The company announced that it has completed its $604.8 million cash for stock transaction with Globo Comunicação e Participações S.A.
The closure of these deal with Globo brings DIRECTV’s ownership of SKY Brasil up to approximately 93% from 74%, leaving Globo with the remaining 7% stake.
DIRECTV acquired 178,830,000 shares, or 18.9% of SKY Brasil in the deal from Globo and its affiliates.
The closure of these deal with Globo brings DIRECTV’s ownership of SKY Brasil up to approximately 93% from 74%, leaving Globo with the remaining 7% stake.
DIRECTV acquired 178,830,000 shares, or 18.9% of SKY Brasil in the deal from Globo and its affiliates.
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