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AT&T slips after Time Warner buyout gets approval

Reuters 

(Reuters) - Shares of AT&T Inc fell 2 percent on Wednesday after a federal judge approved the telecom company's $85 billion buyout of Time Warner Inc, clearing the path for more deals in a rapidly changing media industry.The news lifted shares of other telecom and media companies such as Sprint Corp, CBS Corp and Discovery Inc by around 4 percent in premarket trading. Time Warner was also up about 5 percent."Once technically driven volatility wears off we expect the stock to move higher as closure will likely provide a new investor catalyst including $1.5 billion in anticipated cost ...

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First Published: Wed, June 13 2018. 17:16 IST
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