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

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11/09/2017 | 08:51pm CET

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

AT&T Inc (>> AT&T) is ready to litigate if the U.S. Department of Justice blocks its $85.4 billion Time Warner Inc (>> Time Warner) 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 Reuters 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)

Stocks treated in this article : Time Warner, AT&T
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Financials ($)
Sales 2017 160 B
EBIT 2017 28 029 M
Net income 2017 13 750 M
Debt 2017 114 B
Yield 2017 5,69%
P/E ratio 2017 15,30
P/E ratio 2018 14,02
EV / Sales 2017 2,04x
EV / Sales 2018 2,01x
Capitalization 213 B
Chart AT&T
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AT&T Technical Analysis Chart | T | US00206R1023 | 4-Traders
Technical analysis trends AT&T
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 29
Average target price 39,6 $
Spread / Average Target 14%
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Managers
NameTitle
Randall L. Stephenson Chairman, President & Chief Executive Officer
John J. Stephens Chief Financial & Principal Accounting Officer
Joyce M. Roché Independent Director
Laura D'Andrea Tyson Independent Director
Matthew K. Rose Lead Independent Director
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