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AT&T facing $158 billion debt, to sell Puerto Rico network for $2 billion

October 10, 2019

AT&T has agreed to sell its wireless and wireline networks in Puerto Rico and the US Virgin Islands for $1.95 billion to Liberty Latin America. The deal will help AT&T pay a small portion of the debt load created in part by its acquisitions of DirecTV and Time Warner Inc.

AT&T announced the deal today, saying that the transaction requires review by the Federal Communications Commission and Department of Justice. AT&T hopes to complete the sale within six to nine months. “This transaction is a result of our ongoing strategic review of our balance sheet and assets to identify opportunities for monetization,” AT&T CFO John Stephens said.

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