World Economy

AT&T, Time Warner Shares Dip

AT&T, Time Warner Shares DipAT&T, Time Warner Shares Dip

Wall Street signaled skepticism on Monday that AT&T Inc would secure the government approvals needed to carry out its planned $85.4 billion acquisition of Time Warner Inc, with shares of both companies falling as analysts scrutinized the deal, Reuters reported. Time Warner shares were trading some 20 % below the implied value of AT&T’s $107.50 per share cash and stock offer, indicating investors doubt that the companies would be able to complete the transaction. The deal, announced on Saturday, would give AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted assets and reshape the media landscape.

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