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AT&T to sell data centers worth $2 billion

Feb 03, 2015, 3:51 AM EST
An AT&T Inc. logo is displayed inside a store in Washington, D.C., U.S., on Thursday, Oct. 23, 2014. AT&T Inc., the second-largest U.S. wireless carrier, missed profit estimates and cut its sales forecast as promotions and price cuts took a toll.
Bloomberg via Getty Images

AT&T Inc is selling some data centers worth about $2 billion as it continues its streak of asset sales, people familiar with the matter said on Monday, according to Reuters. AT&T, the No. 2 U.S wireless provider, has been exploring options to pay down its debt and raise funds for investments in recent months. The company declined to comment.

The three sources requested anonymity because the matter is not public. AT&T and its rival Verizon have been selling non-core assets in recent months. Verizon is close to announcing divestitures of wireless towers and wireline markets worth $10 billion, the Wall Street Journal reported on Monday. AT&T hired a financial adviser to assist in the sale.

Following spectrum investments and pending acquisitions, AT&T's debt ratio may rise in the near term, the company said last week after spending close to half of the total bids in the record-setting $44.9 billion spectrum sale that concluded last week. AT&T emerged the top bidder in the AWS-3 spectrum auction by bagging 251 licenses worth $18.2 billion.

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