Hulu buys back AT&T’s 9.5 percent stake

FILE Photograph: The AT&T brand name is pictured in the course of the Forbes Discussion board 2017 in Mexico City, Mexico, September 18, 2017. REUTERS/Edgard Garrido/File Photograph

(Reuters) – Streaming help company Hulu is buying back wi-fi service provider AT&T Inc’s 9.five percent stake in the company in a offer you valued at $a single.forty 3 billion, the two companies described on Monday.

The transaction valued Hulu at $fifteen billion. AT&T described it will use proceeds below from the offer you to slice down its personal debt.

Reporting by Vibhuti Sharma in Bengaluru Enhancing by Arun Koyyur

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