TPG to acquire minority stake in AT&T DirecTV spin-off: CNBC

AT&T and TPG Capital have agreed to spin off its DirecTV, AT&T and U-Verse business, reported CNBC, citing an SEC filing.

AT&T and TPG Capital have agreed to spin off its DirecTV, AT&T and U-Verse business, reported CNBC, citing an SEC filing. According to the agreement, the new company will be called DirectTV. The value of deal is $16.25 billion. At the closing of the deal, AT&T will own a 70 percent stake in DirectTV while TPG will own 30 percent.

Source: CNBC