AT&T Inc. (T)

Apollo Funds to Invest $2 Billion in Preferred Equity of AT&T Mobility II LLC

NEW YORK, June 05, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that, on behalf of its affiliated and third-party insurance clients and other investors, it has agreed to invest $2.0 billion in preferred equity securities to be issued by AT&T Mobility II LLC, a subsidiary of AT&T Inc. (NYSE: T). AT&T Mobility II LLC will use the proceeds from the investment to partially replace the $8 billion of preferred interests that were outstanding prior to the fourth quarter of 2022. The inve