Deals
AT&T Holds Exclusive Talks to Sell DirecTV Stake to TPG
- Telecom giant has been trying to get business off its books
- Discussions follow earlier talks with Apollo and others
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AT&T Inc. is holding exclusive talks to sell a significant stake in DirecTV to private equity firm TPG, the latest stage of a monthslong push to unload at least part of the struggling pay-TV business, according to a person familiar with the matter.
A potential deal is weeks away, and the talks could still fall apart, said the person, who asked not to be identified because the deliberations are private. The agreement being discussed is highly structured and would include preferred stock, according to the person.