AT&T Holds Exclusive Talks To Sell DirecTV Stake To TPG: Reports

(RTTNews) - AT&T Inc. (T) is holding exclusive talks to sell minority stake in DirecTV to private equity firm TPG, according to media reports, citing person familiar with the matter. The deal would allow the U.S. wireless carrier to trim its net debt of close to $150 billion, reports stated.

A potential deal is weeks away, and the talks could still fall apart, the Bloomberg reported, and the agreement being discussed is highly structured and would include preferred stock.

Representatives for AT&T and TPG declined to comment.

Lat month, AT&T agreed to sell its Crunchyroll anime business to Funimation Global Group, a joint venture of Sony Pictures Entertainment and Sony Music Entertainment, for $1.175 billion.