Wall Street bankers have been lining up to submit various proposals to AT&T (T - Get Report) to sell off its troubled DirecTV unit, including one involving Dish Network (DISH - Get Report) as the potential suitor, Fox Business reported on Wednesday.
Citing people familiar with the matter, Fox said the telecom giant has been "inundated" with proposals to sell off the satellite TV operator, which activist investment firm Elliott Management has called on the telecom company to unload.
Some of the proposals include DirecTV teaming up with Dish Network by spinning off the companies into a separate unit, or a merger that could be financed with capital from private-equity firms, according to the report.
Elliott Management disclosed last week that it has taken a $3.2 billion stake in AT&T. In a letter sent to the company on Sept. 9, the firm questioned AT&T's acquisition of Time Warner and recommended the company divest some of its non-core assets to unlock shareholder value.
AT&T CEO Randall Stephenson addressed the activist pressure on Tuesday morning at a Goldman Sachs telecom and media conference, calling the recommendations a "mixed bag" and arguing that the telecom and media giant was well on its way to achieving its goals for the near term.
Shares of AT&T were down 0.38%, or 14 cents, at $37.02 in premarket trading on Wednesday.