TPG Capital, L.P. has entered into exclusive talks to acquire a minority stake in AT&T Inc. (NYSE:T)’s satellite TV division, DIRECTV, Inc., CA, in a deal that would allow the U.S. wireless carrier to trim its net debt of close to $150 billion, people familiar with the matter said on January 22, 2021. The exact price TPG is willing to pay could not be learned, but sources said the deal could value DirecTV at more than $15 billion. Were the negotiations to conclude successfully, a deal could be announced in the coming weeks, added the sources, who requested anonymity because the matter is confidential. AT&T and TPG declined to comment. The advanced talks with TPG are the culmination of an auction that AT&T ran for DirecTV for several months. The deal would crystallize a financial hit for AT&T, which valued DirecTV at about $67 billion including debt when it agreed to acquire it in 2014.