AT&T Sells Remaining Stake in DIRECTV to TPG
AT&T (NYSE:T) has agreed to sell its remaining 70% stake in DIRECTV to TPG, subject to customary closing conditions. This non-contingent transaction marks the complete divestiture of AT&T's interest in DIRECTV. Over the past three years, AT&T has received $19 billion in cash distributions from its initial transaction with TPG and expects an additional $7.6 billion following this agreement.
The sale aligns with AT&T's strategy to focus on being the leading wireless 5G and fiber connectivity company in America. It also aims to strengthen AT&T's balance sheet by accelerating cash inflows. The transaction is expected to close in the second half of 2025.
AT&T (NYSE:T) ha accettato di vendere la sua rimanente quota del 70% in DIRECTV a TPG, soggetta alle consuete condizioni di chiusura. Questa transazione non contingente segna il completo disinvestimento dell'interesse di AT&T in DIRECTV. Negli ultimi tre anni, AT&T ha ricevuto 19 miliardi di dollari in distribuzioni di cassa dalla sua transazione iniziale con TPG e si aspetta ulteriori 7,6 miliardi di dollari a seguito di questo accordo.
La vendita è in linea con la strategia di AT&T di concentrarsi sull'essere la principale azienda di connettività wireless 5G e fibra in America. Mira anche a rafforzare il bilancio di AT&T accelerando i flussi di cassa. Si prevede che la transazione si chiuda nella seconda metà del 2025.
AT&T (NYSE:T) ha acordado vender su participación restante del 70% en DIRECTV a TPG, sujeto a las condiciones habituales de cierre. Esta transacción no contingente marca la completa desinversión del interés de AT&T en DIRECTV. En los últimos tres años, AT&T ha recibido 19 mil millones de dólares en distribuciones de efectivo de su transacción inicial con TPG y espera recibir 7.6 mil millones de dólares adicionales tras este acuerdo.
La venta se alinea con la estrategia de AT&T de enfocarse en ser la principal empresa de conectividad inalámbrica 5G y fibra en América. También busca fortalecer el balance de AT&T acelerando las entradas de efectivo. Se espera que la transacción se cierre en la segunda mitad de 2025.
AT&T (NYSE:T)는 DIRECTV의 남은 70% 지분을 TPG에 매각하기로 합의하였으며, 이는 통상적인 종료 조건에 따라 진행됩니다. 이 비조건 거래는 AT&T가 DIRECTV에 대한 모든 지분을 매각하는 것을 의미합니다. 지난 3년 동안, AT&T는 TPG와의 초기 거래로부터 190억 달러의 현금 배당금을 받았으며, 이번 계약 이후 추가로 76억 달러를 기대하고 있습니다.
이번 매각은 AT&T가 미국에서 선도적인 무선 5G 및 광섬유 연결 기업으로 자리매김하기 위한 전략에 부합합니다. 또한 AT&T의 재무상태를 강화하고 현금 유입을 가속화하는 것을 목표로 하고 있습니다. 거래는 2025년 하반기에 완료될 것으로 예상됩니다.
AT&T (NYSE:T) a accepté de vendre sa participation restante de 70% dans DIRECTV à TPG, sous réserve des conditions de clôture habituelles. Cette transaction sans condition marque le désinvestissement complet de l'intérêt d'AT&T dans DIRECTV. Au cours des trois dernières années, AT&T a reçu 19 milliards de dollars en distributions en espèces provenant de sa transaction initiale avec TPG et s'attend à recevoir 7,6 milliards de dollars supplémentaires suite à cet accord.
La vente s'inscrit dans la stratégie d'AT&T de se concentrer sur le fait d'être l'entreprise leader en connectivité sans fil 5G et fibre en Amérique. Elle vise également à renforcer le bilan d'AT&T en accélérant les flux de trésorerie. La transaction devrait se conclure dans la seconde moitié de 2025.
AT&T (NYSE:T) hat vereinbart, seinen verbliebenen 70% Anteil an DIRECTV an TPG zu verkaufen, vorbehaltlich der üblichen Abschlussbedingungen. Diese unabhängige Transaktion stellt die vollständige Veräußertung von AT&T's Interesse an DIRECTV dar. In den letzten drei Jahren hat AT&T 19 Milliarden Dollar an Barverteilungen aus seiner ursprünglichen Transaktion mit TPG erhalten und erwartet weitere 7,6 Milliarden Dollar im Anschluss an diese Vereinbarung.
Der Verkauf entspricht der Strategie von AT&T, sich als führendes Unternehmen für drahtlose 5G- und Glasfaserverbindungen in Amerika zu positionieren. Ziel ist es auch, die Bilanz von AT&T zu stärken, indem die Cash-Inflows beschleunigt werden. Die Transaktion soll in der zweiten Hälfte von 2025 abgeschlossen werden.
- Sale of remaining 70% stake in DIRECTV to TPG
- Expected additional $7.6 billion in cash payments from the sale
- Strengthening of AT&T's balance sheet through accelerated cash inflows
- Alignment with AT&T's strategy to focus on 5G and fiber connectivity
- Complete divestiture of DIRECTV, potentially reducing future revenue streams
Insights
AT&T's sale of its remaining 70% stake in DIRECTV to TPG marks a significant strategic move. The deal, expected to close in H2 2025, will generate
The divestment aligns with AT&T's strategy to focus on its core 5G wireless and fiber connectivity businesses, which offer higher growth potential. By exiting the mature satellite TV market, AT&T can reallocate capital and resources to more promising areas. This move could enhance long-term shareholder value by improving the company's financial flexibility and growth prospects.
Investors should note that while this transaction provides immediate financial benefits, it also removes a steady cash flow source from AT&T's portfolio. The impact on future earnings and dividend sustainability will be important to monitor.
AT&T's complete exit from DIRECTV signifies a pivotal shift in the telecom landscape. This move underscores the declining relevance of traditional pay-TV in the face of streaming dominance. By divesting DIRECTV, AT&T is strategically positioning itself to compete more effectively in the rapidly evolving 5G and fiber markets.
The focus on wireless 5G and fiber connectivity aligns with industry trends towards high-speed, low-latency networks that support emerging technologies like IoT, edge computing and augmented reality. This strategic pivot could potentially give AT&T a competitive edge against rivals like Verizon and T-Mobile in the race for 5G supremacy.
However, the exit from DIRECTV also means AT&T is relinquishing a significant content distribution platform. The company will need to demonstrate how it plans to leverage its remaining media assets and partnerships to maintain a presence in the content ecosystem, which is important for driving network usage and customer retention.
Over the past three years, the Company achieved financial outcomes consistent with its expectations that underpinned its decision to retain a
This sale allows AT&T to continue to focus on being the leading wireless 5G and fiber connectivity company in America. This transaction also continues to strengthen AT&T's balance sheet by pulling forward cash expected over the next several years.
The Company expects the transaction to close in the second half of 2025.
For more details on the deal, see the 8-K.
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