logo
Plus   Neg
Share
Email

AT&T To Sell Wireless, Wireline Operations In Puerto Rico, Virgin Islands

AT&T Inc. (T) said it plans to sell the company's wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands to Liberty Latin America. AT&T will receive $1.95 billion in cash. The deal includes network assets, including spectrum; real estate and leases; customers, including 1.1 million wireless subscribers; and contracts.

"This transaction is a result of our ongoing strategic review of our balance sheet and assets to identify opportunities for monetization," said John Stephens, AT&T CFO.

To attain its de-leveraging goal, AT&T plans to use free cash flow after dividends and to continue monetization initiatives.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
ABH Pharma, Inc. and Stocknutra.com Inc. have recalled all of its dietary supplement products pursuant to a consent decree entered by the U.S. District Court for the Eastern District of New York. The companies have recalled all dietary supplement products manufactured and sold between January 2013... New York-based grocery chain Fairway Market has filed for Chapter 11 bankruptcy protection, but said its stores will remain open across the Tri-State area during the court process and it does not expect any service interruptions. This is the second time the company has filed for bankruptcy. The company earlier filed for Chapter 11 bankruptcy protection in 2016. Lipari Foods, LLC has for a second time extended its recall for various wedge deli sandwiches for fear of potential contamination with Listeria Monocytogenes, a deadly bacteria, the U.S. Food & Drug Administration said in a statement. The original recall was initiated on January 6 and the expanded recall on January 13, following notification by JLM Manufacturing.
Follow RTT
>