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AT&T, DirecTV $50 Billion Deal Expected to Close in Coming Weeks

6/17/2014

By Reuters and Tony Maglio
TheWrap

AT&T Inc. is expected to strike a deal with DirecTV in as early as two weeks, the Wall Street Journal reported on Monday, citing sources.

The mobile services provider and the satellite TV company are discussing a cash-and-stock deal, the sources told the Journal. The discussed price of about $100 per share places the total market valuation for DirecTV at around $50 billion, Bloomberg reported.

Under the plan, DirecTV management will continue to run the company as a unit of AT&T. DirecTV Chief Executive Officer Mike White plans to retire after 2015.

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DirecTV is working with advisers including Goldman Sachs Group to evaluate a possible combination following a recent takeover approach, Reuters reported last week.

AT&T declined to comment, while DirecTV representatives were not immediately available for comment.

(Reporting by Abhirup Roy in Bangalore and Marina Lopes and Jennifer Saba in New York; Editing by Sriraj Kalluvila)

The post AT&T, DirecTV $50 Billion Deal Expected to Close in Coming Weeks appeared first on TheWrap.

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