Scale Capital agrees to buy DirecTV in Venezuela

The Scale Capital firm announced this last August 14th an agreement to acquire DirecTV Venezuela (AT&T). The news was confirmed by Scale Capital through a press release. In addition, Scale Capital reported that the agreement ‘allows immediate service to more than 2 million families who were subscribers of DirecTV Venezuela’.

On its quarterly results report for Q2 2020, AT&T reported that, at the time of the closure of DirecTV’s operations in Venezuela, which took place in May, DirecTV had 2.2 million subscribers in the country. In addition, Scale Capital announced that the first 90 days of DirecTV service will be offered for free in Venezuelan territory.

As officially reported by Scale Capital, the company will use the infrastructure that DirecTV already had installed to provide the service. In addition, the entity highlighted that the activation of operations are approved by the Government of the Bolivarian Republic of Venezuela. Venezuela’s National Telecommunications Commission (Conatel) also confirmed the news. Scale Capital informed that it will appoint Alexander Elorriaga as Executive President of the company, once the corresponding procedures have been completed.

‘We are very excited about this launch, and we want to thank all for their support, in particular the Government of the Bolivarian Republic of Venezuela and the National Telecommunications Commission’, said Jacopo Bracco, Managing Partner at Scale Capital. The firm reported that, to activate the service, ‘former DirecTV Venezuela’s customers will only need to keep their STBs connected and the antenna properly oriented’.