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AT&T CEO says open to litigation on Time Warner deal

Reuters 

(Reuters) - AT&T Inc is ready to litigate if the U.S. Department of Justice blocks its $85.4 billion Time Warner Inc deal, Chief Executive Randall Stephenson said on Thursday.

"If we are going to go for litigation our preference would be sooner is better. We are prepared to litigate now," Stephenson told CNBC on the sidelines of the New York Times Dealbook conference.

"We have been working very diligently on a litigation strategy and a litigation plan," he said, adding: "We would obviously ask for an expedited hearing. We feel that a transaction of this size you would likely get an expedited hearing."

The U.S. Department of Justice has demanded significant asset sales in order to approve the deal, sources told on Wednesday, and asked AT&T to sell CNN-parent Turner Broadcasting or its DirecTV satellite TV operation in discussions on Monday.

(Reporting by Arjun Panchadar and Aishwarya Venugopal in Bengaluru; editing by Patrick Graham)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 01:34 IST
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