DirecTV to buy rest of Latin Am. unit |
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Tue, 30 Jan 2007 20:46
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EL SEGUNDO, Calif. (AFX) - Direct broadcast satellite provider DirecTV Group Inc. said Tuesday it agreed to buy Darlene Investments LLC's stake in DirecTV Latin America LLC for $325 million.The deal for Darlene's 14.1 percent equity interest includes the resolution of all outstanding disputes between the two parties.DirecTV will acquire full equity ownership of its Latin America segment as a result of the deal, which is effective immediately.DirecTV Latin America provides digital television service to about 4 million customers in Latin America, according to the company.Shares of El Segundo, Calif.-based DirecTV were up 9 cents to $24.28 in afternoon trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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