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AT&T Now 'Uncertain' Over Timing Of Time Warner Deal Closing

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AT&T 's ( T ) acquisition of media giant Time Warner ( TWX ) may not close by year-end as the telecom conglomerate has targeted, its chief financial officer indicated at a financial conference on Wednesday.

[ibd-display-video id=2524135 width=50 float=left autostart=true] "The timing of the deal is now uncertain," AT&T Chief Financial Officer John Stephens at a Wells Fargo conference in New York.

AT&T stock was up 1.1% to close at 33.44 on the stock market today . Time Warner shares fell 6.5% to finish at 88.50. AT&T has agreed to buy Time Warner for $107 per share, so Time Warner's price indicates uncertainty over when, or if, the deal will close, analysts say.

AT&T has maintained that its $85 billion purchase of Time Warner will close by the end of 2017, despite reports that the Department of Justice could sue to block the deal. AT&T's position is that so-called "vertical" deals do not raise fundamental antitrust concerns.

However, the Justice Department could seek to place conditions on the acquisition that AT&T is resisting, some analysts say.

The U.S. Senate recently confirmed President Donald Trump's appointment of Makan Delrahim to head the Justice Department's antitrust division. Trump promised on the campaign trail in October 2016 that he'd kill the deal because it concentrates too much "power in the hands of too few."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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