In this news, we discuss the Exclusive: buyout company TPG tops for stake in AT & T’s DirecTV – sources
(Reuters) – Private equity firm TPG has entered into exclusive negotiations to acquire a minority stake in AT&T Inc’s satellite TV division DirecTV in a deal that would allow the operator US mobile phone company to reduce its net debt by nearly $ 150 billion, people familiar with the matter said Friday.
The exact price TPG is willing to pay could not be learned, but sources said the deal could value DirecTV at over $ 15 billion. If negotiations are successful, a deal could be announced in the coming weeks, the sources added, requesting anonymity as the matter is confidential.
TPG declined to comment while AT&T did not immediately respond to a request for comment.
Reporting by Krystal Hu and Josh Franklin in New York; Editing by Greg Roumeliotis
Original © Thomson Reuters
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