AT&T To Sell Puerto Rico, Virgin Islands Biz For $1.95B

Law360 (October 9, 2019, 4:37 PM EDT) -- AT&T, which recently came under fire from an activist investor, said Wednesday it is continuing a string of divestitures with a $1.95 billion sale of its operations in Puerto Rico and the U.S. Virgin Islands to Liberty Latin America.

The latest divestiture, which lifts AT&T Inc.’s total announced or completed sales this year to $11 billion, is the first to make headlines since affiliates of Elliott Management Corp. revealed a $3.2 billion stake in the telecom giant and called for a strategic review of every asset on AT&T’s books.

The deal will see Liberty Latin America Ltd. take on AT&T’s wireless...

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