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AT&T Ditches Puerto Rico and Virgin Islands to Raise Money to Cut Debt, Buy Back Its Own Stock ·
AT&T will sell its operations in Puerto Rico and the U.S. Virgin Islands to John Malone’s Liberty Latin America, Ltd., setting up a virtual market monopoly for Liberty, which already owns cable operator Liberty Cablevision of Puerto Rico. Liberty Latin America has agreed to pay $1.95 billion in cash to acquire 1.1 million AT&T cellular, …