\tAT&T began exploring a sale of its business in Puerto Rico as part of a continuing effort to cut debt, Reuters reported.<\/p>\n
The operator hired a financial adviser to help with the sale, which could raise as much as $3 billion, the news agency stated.<\/p>\n
While AT&T does not break out unit details in its financial reports, Reuters noted the Puerto Rico business offers TV, internet, landline phone and business services with annual EBITDA of around $300 million.<\/p>\n
During the operator\u2019s Q1 earnings call, CEO Randall Stephenson reiterated eliminating debt accrued as part of its $85 billion acquisition of Time Warner in 2018 and $49 billion purchase of DirecTV in 2015 was a top priority for the company. At end-March, it had $163.9 billion in long term debt<\/p>\n
It raised $5 billion in February through the sale of unsecured bonds as part of its debt reduction effort.<\/p>\n
In April, AT&T batted down [1] reports it was considering a sale of the European arm of HBO, but subsequently sold its minority stake in Hulu [2] for $1.43 billion.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/att-refutes-report-of-hbo-europe-sale-plans\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/att-offloads-hulu-holding-to-pay-debt\/<\/p>\n","protected":false},"excerpt":{"rendered":"
AT&T began exploring a sale of its business in Puerto Rico as part of a …<\/p>\n
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