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AT&T Looking to Sell Assets for Cash

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Feb 2, 2015, 6:45 PM by Eric M. Zeman

AT&T hopes to offset some of its debt by selling certain assets, reports Reuters. In particular, AT&T may offload several data centers worth about $2 billion, according to sources familiar with AT&T's plans. AT&T will need to write the government a check for $18 billion to cover the spectrum licenses it won during the recent AWS-3 auction. AT&T has hired a financial planner to help finalize the sales. AT&T has already sold other assets, including portions of its wireline business and some of its cell towers. AT&T didn't comment on Reuters' story. Verizon Wireless is expected to sell assets, too, in order to strengthen its balance sheet. Verizon spent about $10 billion in the same auction.

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