AT&T (T) May Sell Yellow Pages Unit in $1.5B Deal
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AT&T (NYSE: T) shares closed modestly higher Thursday amid reports the company might be in talks to sell a majority stake in its Yellow Pages business.
The WSJ reported AT&T may sell the unit to private equity firm Cerberus Capital in a deal valued at $1.5 billion. TPG might also be discussing a possible deal. The WSJ cited people familiar with the matter on the knowledge.
AT&T is looking to divest assets following the foiled plan to acquire T-Mobile from Deutsche Telekom following FCC scrutiny. In January, CEO Randall Stephenson said the communications giant was looking at options with respect to its directories business and rural telephone lines.
Amid chatter, the WSJ pointed out sources said a deal "isn't imminent" and "could still be weeks away."
AT&T shares closed up 0.39 percent.
The WSJ reported AT&T may sell the unit to private equity firm Cerberus Capital in a deal valued at $1.5 billion. TPG might also be discussing a possible deal. The WSJ cited people familiar with the matter on the knowledge.
AT&T is looking to divest assets following the foiled plan to acquire T-Mobile from Deutsche Telekom following FCC scrutiny. In January, CEO Randall Stephenson said the communications giant was looking at options with respect to its directories business and rural telephone lines.
Amid chatter, the WSJ pointed out sources said a deal "isn't imminent" and "could still be weeks away."
AT&T shares closed up 0.39 percent.
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