7/13/2018, 5:15 PM (Source: TeleTrader)
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Chart for: AT&T Inc.

AT&T not worried about DoJ appeal of Time Warner deal

AT&T Inc. CEO Randall Stephenson told CNBC on Friday that he is not worried about the Department of Justice's (DoJ) decision to appeal the ruling which approved its deal with Time Warner. "We think the likelihood of this thing being reversed and overturned is really remote," Stephenson noted. He added that the company will continue executing its plan. "The merger is closed. We own Time Warner," the AT&T CEO concluded.

On Thursday, the DoJ announced it will appeal last month's ruling of District Court Judge Richard Leon which unconditionally approved AT&T's takeover of Time Warner worth over $80 billion. The case will be heard by a three-judge panel of the D.C. Circuit Court of Appeals.

AT&T shares dropped 2.03% at 4:59 pm CET.

Breaking the News / NP