AT&T in sight of an initial public offering for DirecTV Latin America

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AT&T Inc. T, +1.00% said on Wednesday that it is exploring the possibility of an initial public offering of a minority interest in its Latin America entertainment business subsidiary, DirecTV Latin America.

The plan would be to offer securities in the first half of 2018. AT&T said it has confidentially filed a registration statement with U.S. regulators. Shares of parent company AT&T are down more than 10% in the last 12 months, while the S&P 500 index SPX, +1.49% is up nearly 18% and the Dow Jones Industrial Average DJIA, +1.38% is up 24%.