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7 months ago
Trump remains opposed to AT&T-Time Warner deal - BBG
January 5, 2017 / 7:09 PM / 7 months ago

Trump remains opposed to AT&T-Time Warner deal - BBG

1 Min Read

Jan 5 (Reuters) - Donald Trump remains opposed to AT&T Inc's planned $85.4 billion acquisition of Time Warner Inc , Bloomberg reported, citing people close to the president-elect.

Trump believes the deal would concentrate too much power in the media industry, Bloomberg reported. (bloom.bg/2jfkJlx)

Shares of AT&T were down 0.3 percent, while Time Warner's stock was down 1.4 percent.

Trump during his campaign had said AT&T's proposal to buy the owner of CNN and the Warner Bros movie studio was an example of a "power structure" that was rigged against him and voters.

Trump's transition team was not immediately available for comment. (Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)

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