Liberty buys AT&T assets

Naji Khory, president and chief executive officer of Liberty Puerto Rico, left, and Balan Nair, president and CEO of Liberty Latin America, announced an agreement to acquire AT&T’s operations in the U.S. Virgin Islands and Puerto Rico.

AT&T has announced plans to sell its wireless and wireline operations in the Virgin Islands and Puerto Rico to regional telecommunications company Liberty Latin America.

The $1.95 billion deal means AT&T network assets, including spectrum; real estate and leases; customers, including 1.1 million wireless subscribers; contracts; and roughly 1,300 employees, will move to Liberty Latin America by next spring or summer, according to a statement Wednesday.

— Contact A.J. Rao at 340-714-9104 or email ajrao@dailynews.vi.