AT&T sells its holding stake in Alestra to Alfa

AT&T (NYSE: T) is shedding its 49 percent stake in Mexican telecom operator Alestra, selling it to Mexican industrial conglomerate Alfa SAB for an undisclosed sum.

Although it's buying a big stake in Alestra, Alfa said it will be business as usual at Alestra where it will continue to provide telecom and IT services to businesses and government agencies.

The Alestra sale does not mean that AT&T is leaving the Mexican telecom market. Instead, AT&T will serve Mexico-based business customers through its AT&T Global Network Services subsidiary.

Both AT&T and Alfa expect the deal to be completed by the end of this quarter.

This is the latest sale AT&T has made in the past year to divest itself of non-core assets, having previously AT&T sold its domestic Japanese outsourcing unit to IIJI and its Sterling Commerce division to IBM last year.

For more:
- News & Observer has this article

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