September 9, 2019 / 1:21 PM / a month ago

Trump calls activist shareholder moves on AT&T 'great news'

FILE PHOTO: U.S. President Donald Trump stands in the Oval Office during a presentation of the Presidential Medal of Freedom to NBA Hall of Famer Jerry West at the White House in Washington, U.S., September 5, 2019. REUTERS/Joshua Roberts

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday weighed in on activist investor Elliott Management Corp’s moves targeting AT&T Inc (T.N), calling the hedge fund’s actions “great news” and repeating his criticism of the wireless carrier’s CNN news division.

Shareholder Elliot Management earlier on Monday had called on AT&T to sell some assets and questioned its deal with Time Warner.

“@CNN is bad for the USA,” Trump said in a series of tweets. “It is a fraudulent shame, & all comes from the top!”

Reporting by Susan Heavey; Editing by Kevin Liffey

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