AT&T and Time Warner postpone merger for six months
AT & T and Time Warner have set a new "deadline" for their merger approval. According to The Hollywood Reporter, now all legal formalities must be met no later than April 22, 2018. After that, either the parties agree to recognize their previous obligations as impracticable, or postpone the date of the merger again. Note that earlier AT & T and Time Warner counted on the legal registration of the deal, concluded at the end of 2016 no later than October 2017 ... However, the US Department of Justice intervened in the process, which intends to challenge the legality of such a takeover in court. It was alleged that the supervisor demanded the sale of one of Time Warner's most important assets, CNN. Only in this case would the contract be recognized as valid. Representatives of AT & T stated that the company does not intend to agree to such conditions, and is ready to defend its position in court. Recall that the technology giant AT & T agreed to buy Time Warner for $ 85 billion. Over the year, the value of the latter's shares dropped significantly, so by November 2017, Time Warner was already valued at $ 68 billion. The company's most valuable asset was HBO, which produces the popular TV series Game of Thrones. The Topic of Article: AT&T and Time Warner postpone merger for six months. |
