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February 3, 2015

AT&T to sell off data centres worth $2bn

Telecoms firm is looking to reduce debt and raise funds for recent investments.

By Amy-Jo Crowley

AT&T is reportedly selling some of its data centres worth around $2bn, as it looks to fund recent acquisitions and the purchase of spectrum licenses.

According to Reuters, the data centre sale will allow the telecoms giant to raise approximately $2bn, with the proceeds being used to reduce its debt and raise funds for acquisitions in recent months.

It added that AT&T has hired a financial adviser to assist in the sale.

The news comes after AT&T last week emerged as the top bidder during the FCC’s recent auction for AWS-3 spectrum. In total, it spent $18.2bn for 251 spectrum licenses, while Verizon spent $10.4bn and T-Mobile $1.8b.

It also comes as AT&T awaits shareholder and regulatory approval on its purchase of DirecTV for $48.5bn and buyout of bankrupt NII Holdings’ wireless business Nextel Mexico.

Last December, AT&T said it would virtualise 75% of its network infrastructure by 2020, in a bid to accelerate its software defined networking (SDN) and network functions virtualisation (NFV) strategy.

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