sonali: what is interesting is the role of tpg. more and more private equity firm's playing a role in these joint venture. what are they doing here? michelle: tpg and at&t in 2021 formed a joint venture with a spun -- where they spun directv out into a new company. it has been a great deal for tpg because directv generates a lot of cash. as we have seen the past few years, private equity is looking for ways to monetize their investments. at&t as well, there was a provision that allowed them after three years to exit their stake. that elapsed as of last month. that is part of what could be driving some of the timing. sonali: absolutely fascinating. congrats on the scoop. that is michelle davis with bloomberg news. options trading growth is breaking records. one firm is responding with a whole new exchange. details on that, next. this is bloomberg. ♪ sonali: this is "bloomberg markets." the equities exchange is entering the options market with its own exchange. brian harkins is leading the charge and here today. we are also joined ka

probably t-mobile -- >> tpg. >> tpg, actually bought it for stock.0 tax cuts means for the company. >>> and later, bradley tusk will join us with his new book. vote with your phone. why mobile voting is the final shot at saving democracy. it's an interesting read. and a provocative idea. we'll talk about it after this. we always had dogs, they're like my best buddies. yep, had them my whole life. c'mon bo! so we got him and he is a, an absolute joy. daddy's puppy. once we got on the farmer's dog he just attacks it, it's incredible. they're so tuned into you and they have such, such personality. being without a dog, i don't know, can't imagine it. [laughter] you founded your kayak company because you love the ocean. not spreadsheets... you need to hire. i need indeed. indeed you do. our matching platform lets you spend less time searching and more time connecting with candidates. visit indeed.com/hire at ameriprise financial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make th

under tpg, directv has done well. tpg has been able to cut costs.he thought is maybe it is better in their hands than a split deal. caroline: i like that you are saying this is part of a trend to simplify. you also have a verizon story where we say a $3.3 billion deal to sale, leaseback access to its towers. michelle: it is a way for verizon to get some cash. they announced a deal a couple weeks ago to buy frontier, a big broadband internet player. we are seeing a big theme of waterless players tapping out on cell phone, trying to find more customers. the way they are doing that is offering internet access. this is a way to pay for that without boosting their leverage, gives them a little bit of cash. caroline: we appreciate it. meanwhile, chief investment strategist marta austin is here. are we going to see more deals move through as we see rates go lower? >> we have seen some pickup in deals this year. one of the challenges has been higher rates, so the expectation that as the fed enters the definitive cutting cycle we will see some shifts. that c

some of those include tpg and at&t. this truck there was a provision that said at&t could not exit its 70% stake until this past summer. now that that has passed it gives directv the corporate governance and ability to do something like this. on the dish side, the billionaire the controls the company has been dealing with issues on the debt side. he has spent a ton of money to build up the wireless business. the view is all of this coming together at the same time could help solve both problems at once. caroline: tpg, at&t, the names behind some big stakes. do they -- remain committed? michelle: at this point it sounds like the stakeholders will remain stakeholders. there might be ways to take money off the table. directv does generate cash flow for at&t. something like this would help them exit if they wanted to. caroline: thank you for breaking it down. ed, what are you looking at? ed: more news in today's talking tech. ireland has fined meta more than $100 million. it inadvertently stored passwords of some users in i

secular decline a number of years ago and that's what prompted us to set up the joint structure with tpgnd we have a separate independent board that manages the asset and is done incredibly well in generating returns and cash flow in the right kind of operational decisions that are consistent with the lifecycle that the product is on we have been pleased with that and we continue to be pleased if that's how we need to run it moving forward but the team has done a nice job with asset. liz: i know you cannot comment if i can spread it to a general topic, back in 2002, the media landscape was different back then when it comes to competition, youtube tv, they did not exist, satellite tv has become a rural necessity if you were to make another go at the merger, how would you at&t formulate a plan to present it that would be palatable to the regulars. >> i'm not involved with writing the business separate management and the question to that, things have changed remarkably, there is broadband everywhere you beat funding commitment that is going to ultimately finish off the last 12 - 50000000 ho

shah: yes, we started the process of building a small firm and partnered closely with a larger firm, tpgted identifying projects and raising funds. i got about a year and a half, about a year and a half into that, and the rockefeller foundation opportunity came up and i felt that was more aligned with what i wanted to do. david: so you became the president of the rockefeller foundation, how many years ago was that? dr. shah: six. david: the rockefeller foundation is very famous, over 100 years. but it is not nearly as big as the gates foundation. how do you deal with the challenge that people think you have unlimited amounts of money, but you really don't? dr. shah: our resources really should be society's risk capital to solve tough problems. we think of it that way. we are not trying to pay for solutions at scale. we are trying to build partnerships that either allow companies to build out global electrification and reach people who are very poor and make that profitable and viable in a commercial basis, or get government to do that are transformational, like you did during the covid c

that's all changing as well, by the way, because directv or tpg is buying the 70% from at&t for $7.6 billion. that will be over a period of time in the years ahead, and they will own all of it. that's been agreed to as well. it's a separate transaction. now, as for the echostar deal, that's where things get quite complex. but essentially all of this being done to significantly reduce indebtedness of the company and eliminate near term maturities, put them in a position where they can try to create that nationwide competitor to at&t to t-mobile and verizon in terms of providing a nationwide 5g wireless service. they have the spectrum to do it, the question is do they have the money and equipment and everything else perspective. this gives them the runway potentially to do that. we will be discussing this in detail with the company oo's ce little over an hour on "squawk on the street." 5.1 billion in new capital is coming from existing debt holders, and i don't have this down there. they are also essentially refinancing an initial $5 billion in existing dealts. they are pushing that ou

why the stock is down 21% year to date, a week ago it was a rumor now it is news private equity firm tpg will merge the satellite company with rival dish at&t agreeing to sell the remaining 70% stake for roughly $7.6 billion ceiling the exit from the entertainment business, separately directv agreed to by dish from echostar for a dollar roughly 9.8 billion in debt you may remember back in 2002 the government blocked this proposed merger of directv and dish this transaction assuming it now years later passes regulatory muster because of the new competition from streaming et cetera is expected to close in the second half of 2025 at&t is up a quarter of 8% tg and you down one at 8% parent of dish down ted and half% president joe biden colleen hurricane helene a history making storm with more than 100 people dead and six states now forecast show there is more trouble tropical trouble brewing in the caribbean in the gulf of mexico carnival ceo josh weinstein just reported record revenue he's here next on how mothers natures wrath might or might not swap his plans for a sunny profit forecast.

the markets, where we are in, for instance, we recently acquired from tpg, a bank in sri lanka.f a youth crisis. we decided to enter. you know that. we run the largest bank in our own country. haslinda: how are you assessing the climate ahead of the elections? >> i hope that the current disposition would stay in power. it's more than individual. of course i am a great admirer of the current president. he did a fantastic job in terms of bailing out sri lanka in the midst of the chaos. a chaos at which no one wanted to take over. and i think today the sri lankan economy is in a far more comfortable position, we have 16, 17 for the bank, and our food business and also electric vehicles. haslinda: c would like to invest more in the country? >> of course. you are optimistic about india, you have 92 hotels, what are your expansion plans? >> business in india is --, we are the second largest player. we are also in the infrastructure space, special economic jobs, our portfolio in india is done very well. we have a brand that we own ourselves with more than 100 hotels in operation. in ou

i work with a group of folks called pegasus capital advisors and another called tpg. these are significant companies, but what we talk about is what is can the stent with the needs of those countries. not what is consistent with our ability to invest, so that i will make some money, but it will not fundamentally add to the infrastructure of those countries. i have seen people invest in a solar array in the middle of nowhere when they don't have water in the country that is drinkable, and they don't have food systems that provide for them, for crying out loud, we need to do better than that. which is why i am working on the international diplomacy because they're working with the countries themselves to development zero lands that are how i grow the fundamental infrastructure that everyone here takes for granted. so all of this stuff is great, but you have to really think about how you invest, how we do those partnerships in a way that really allows these countries to succeed. not allow us to put a checkmark behind greenhouse gas reductions of carbon credits that we we

remember, directv is a private company owned by tpg, run by they management but still 70% owned as of by at&t >> i'm not as old as you, but i do feel like i have deja vu on this merger story. >> it is 23 years ago. you were there. >> it's been the most obvious deal that never happened. >> two old stories. paramount, i'm following that for months and months. of course, 30-plus years ago, it was that fight. now we got this one again. >> what's old is new. >> exactly. >>> take another look at futures here as we dowcount you down toe opening bell. dow futures up 100. s&p futures up 11, looking to ilon tsebud ho record highs. more "squawk on the street" when we come right back. they respons with phone-calls... they wear business sneakers and pad their keyboards with something that makes their clickety- clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. i can't believe