or not 2B
- Oct 27, 2017
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.
SourceAT&T has said it intends to cut its debt by up to $20 billion in 2019. The company already lowered its long-term debt from $166 billion as of December 31, 2018 to $158 billion on June 30, 2019. AT&T told investors today to expect share buybacks later this year as the company continues improving its debt-to-earnings ratio.
AT&T might actually have put itself in too much debt after buying DirectTV for 67 billion and then TimeWarner for 85 billion.