AT&T spent years cobbling together a widely diverse business, but lately it’s been in the news for its efforts to shuck off various parts of itself as it seeks to decrease its debt load. The company may also want to accumulate cash in order to bid large at the upcoming C-Band auction.
Before former AT&T CEO Randall Stephenson left the company, he had been intent on selling off some non-core assets to decrease the company’s debt. That process accelerated after activist investor Elliott Management scorched the company’s execution and profit record.
RELATED: Elliott trashes AT&T management and its execution in wireless
Just yesterday, AT&T sold its stake in Central European Media Enterprises for $1.1 billion. “The sale is consistent with AT&T’s ongoing efforts to monetize non-core assets to drive incremental shareholder value,” said AT&T in a statement.
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