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At&t Plans To Sell Its Puerto Rico Business For Almost $2B Amid Pressure From Activist Hedge Fund Elliott Management (t) | Markets Insider
Posted on: Oct. 9, 2019, 2:51 p.m.
AT&T announced on Wednesday it plans to sell its Puerto Rico and US Virgin Islands business to Liberty Latin America for almost $2 billion. The sale is part of an ongoing effort by AT&T to sell-off non-core assets, which activist hedge fund Elliott Management expressed support for when it announced a $3.2 billion stake in the company last month. The telecommunications provider said the proceeds will help reduce its debt pile and pave the way for more share buybacks. Watch ... Full investment news article