AT&T’s board to bidders: Try again
AT&T said yesterday that its board of directors has instructed its management to continue negotiating with the various companies interested in acquiring AT&T Broadband.
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“The board said that it would evaluate the potential of all proposals to create long-term shareowner value but cautioned that there could be no guarantee that it would enter into a transaction for AT&T Broadband,” the company said in a statement.
AT&T’s board received three offers for the company’s cable arm by its Friday deadline and met on Saturday to discuss the proposals from Cox Communications, Comcast and AOL Time Warner. The decision to not make a quick decision was expected and could indicate the company’s desire to reject all three bids and proceed with a planned spin-off.
--Vince Vittore, executive editor
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© 2012 Penton Media Inc.
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