Spanish telecommunications company Telefonica has expressed interest in buying AT&T's pay TV assets in Latin America, which could be valued at around $10 billion, according to people familiar with the matter.
AT&T bought the Latin American assets as part of its acquisition of DirecTV last year. The business includes satellite and cable television services in Brazil, Colombia, Venezuela, Argentina and several other countries.
The U.S. telecoms company has yet to decide if it will explore a deal with Telefonica or another company, the people familiar with the matter said.
Other parties are interested in AT&T's assets in specific countries, and the company may choose to run several sale processes, one of the people said. One potential buyer could be Liberty Global Plc, that person added.
The sources asked not to be identified because the deliberations are confidential.
Telefonica and AT&T declined to comment. Liberty Global could not immediately be reached for comment.
AT&T has about 19 million pay TV subscribers in Central and South America, making it the biggest player in the region. But profits have been pressured by depreciating currencies in Brazil and other Latin American countries.