(Reuters) - Telecommunications carrier AT&T Inc (N:T) said on Wednesday it will sell its wireless and wireline operations in Puerto Rico and U.S. Virgin Islands to Liberty Latin America Ltd (O:LILA) for $1.95 billion in cash.

Reuters had earlier reported that the company was exploring a sale for its Puerto Rican assets for $3 billion to cut the debt pile it took on to purchase Time Warner Inc (NYSE:TWX) for $85 billion last year.

AT&T's business in Puerto Rico comprises internet, TV, landlines and business services.

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