Benzinga | Jul 20, 2021 01:20PM EDT

AT&T Engages In Talks To Divest Xandr Division To InMobi: Bloomberg

* AT&T Inc (NYSE:T) is in discussions to sell its Xandr division to Indian advertising-tech company InMobi, Bloomberg reported. Axios previously reported on the talks.

* The move reflects AT&T's shift from Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) to Google and Facebook Inc (NASDAQ:FB) dominated online ads market.

* AT&T is moving its DirecTV operations to a joint venture with TPG. Its WarnerMedia unit is likely to merge with Discovery Inc to become a new independent company.

* SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) and Kleiner Perkins Caufield & Byers backed InMobi focuses on the mobile advertising market.

* Price action: T shares traded higher by 0.49% at $27.93 on the last check Tuesday.