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AT&T explores sale of HBO Europe to reduce debt - FT

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AT&T explores sale of HBO Europe to reduce debt - FT
FILE PHOTO: An AT&T logo is seen at a AT&T building in New York City, October 23, 2016. REUTERS/Stephanie Keith   -   Copyright  Stephanie Keith(Reuters)
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(Reuters) – AT&T has internally discussed about selling its HBO Europe business as the telecom group aims to reduce a debt pile of $170 billion (£130 billion), the Financial times reported, citing current and former senior executives.

Comcast-owned Sky would be an “obvious buyer” given its relationship with HBO, the paper said, citing people at AT&T and HBO. Sky distributes HBO content in the UK, Germany and Italy.

HBO became part of AT&T after the telecom group closed its $85 billion acquisition of Time Warner Inc last year.

HBO Europe is one of several assets AT&T has considered selling but has not held formal talks with any potential buyers, the paper added.

In November, AT&T said it had committed to cutting its heavy debt load in 2019 through a variety of measures, including a review of all of its non-core assets such as its stake in streaming video company Hulu for possible sale.

AT&T and Comcast did not immediately respond to requests for comment on the report.

(Reporting by Philip George and Ishita Palli in Bengaluru; Editing by Gopakumar Warrier)

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