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AT&T (T.US) sells its stake in DirecTV to TPG (TPG.US) for $7.6 billion.
AT&T (T.US) announced on Monday that it will sell 70% of satellite television provider DirecTV's shares to private equity firm TPG (TPG.US) for $7.6 billion. Data shows that AT&T acquired DirecTV in 2015, and in 2021 signed a joint venture agreement with TPG, with TPG contributing approximately $1.8 billion to own 30% of DirecTV valued at about $16 billion at the time. AT&T stated that after the sale, the company will focus on its core wireless and fiber optic connectivity business, which will help improve its balance sheet.